Brief: Aqualisbraemar To Acquire LOC Group

Aqualis ASA

23/11/2020 06:05

Nov 23 (Reuters) - Aqualisbraemar ASA  AQUA.OL :
    * AQUALISBRAEMAR TO ACQUIRE LOC GROUP
    * AQUALISBRAEMAR TO ACQUIRE LOC GROUP
    * ESTIMATED USD 3.5 MILLION IN ANNUAL COST SYNERGIES
    * HAS ENTERED INTO AN AGREEMENT TO ACQUIRE 100 PERCENT OF
SHARES
IN LOC GROUP
    * JOINT GROUP TARGET OF 50 PERCENT OF REVENUES FROM
RENEWABLES
SECTOR AND OTHER SUSTAINABILITY AND CO2-REDUCING ACTIVITIES IN
2025
    * TRANSACTION FULLY FUNDED THROUGH COMBINATION OF CASH, BANK
LOAN
AND NEW EQUITY
    * PURCHASE PRICE CONSIDERATION CONSISTS OF A COMBINATION OF
CASH
CONSIDERATION AND CONDITIONAL WARRANTS IN AQUALISBRAEMAR
    * USD 20.2 MILLION NET CASH CONSIDERATION, SUBJECT TO
CUSTOMARY
ADJUSTMENTS PRIOR TO CLOSING
    * CONSIDERATION INCLUDES: 1 MILLION WARRANTS, CONDITIONAL ON
AQUALISBRAEMAR SHARE PRICE 18 MONTHS AFTER COMPLETION BEING
ABOVE NOK 7.5
    * CONSIDERATION INCLUDES: 1 MILLION WARRANTS, CONDITIONAL ON
AQUALISBRAEMAR SHARE PRICE 36 MONTHS AFTER COMPLETION BEING
ABOVE NOK 10.0
    * CLOSING OF ACQUISITION IS EXPECTED ON OR AROUND 21
DECEMBER 2020

Source text for Eikon:  ID:nObiPVZw5a 
Further company coverage:  AQUA.OL 

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