Brief: Ashford to buy stake in co that conducts business of J&S audio visual

Ashford

25/07/2017 21:30

July 25 (Reuters) - Ashford Inc  AINC.A  
    * Ashford - to buy controlling interest in privately held co 
that conducts business of J&S audio visual in United States, 
Mexico, and Dominican Republic 
    * Ashford Inc - deal for approximately $17.1 million in 
cash and $4.3 million of Ashford common stock consideration 
    * Company expects to finance investment with a term loan of 
approximately $12 million 
    * Ashford Inc - after giving effect to transaction, Ashford 
will own approximately an 85% interest in common equity of J&S 
    * Ashford Inc - expects J&S to initially contribute 
approximately $1.77 to its adjusted net income per diluted 
share 
 
Source text for Eikon:  ID:nPn13n6d8a  
Further company coverage:  AINC.A  
 
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