Brief: Aspo's Subsidiary Buys Swed Handling For SEK 500 Mln

Aspo Oyj

29/04/2024 07:56

April 29 (Reuters) - Aspo Oyj  ASPO.HE :
    * SUBSIDIARY MAKES MAJOR ACQUISITION IN SWEDEN - TELKO TO
BECOME A
LEADING LOCAL PLAYER IN DISTRIBUTION OF CHEMICALS AND LEIPURIN
EXPANDS INTO SPECIALTY INGREDIENTS AND FOOD INDUSTRY
    * ASPO'S SUBSIDIARY TELKO OY EXPANDS ITS CHEMICALS BUSINESS
IN
SWEDEN BY ACQUIRING SWED HANDLING AB, A LEADING SWEDISH CHEMICAL
DISTRIBUTOR, FROM TERA INVEST AB
    * AS PART OF TRANSACTION, ASPO'S SUBSIDIARY LEIPURIN OYJ
EXPANDS
ITS FOOD INDUSTRY BUSINESS IN SWEDEN, VIA TECHNICAL FOOD
INGREDIENT DISTRIBUTOR KEBELCO AB, WHICH IS A SUBSIDIARY OF SWED
HANDLING
    * PURCHASE PRICE IS SEK 500 MILLION (APPROX. EUR 43 MILLION)
WITH
AN ADDITIONAL EARNOUT MECHANISM OF SEK 0-130 MILLION (APPROX.
EUR 0-11 MILLION) FOR 2024-2025, DEPENDING ON SWED HANDLING'S
PROFITABILITY DEVELOPMENT, EXCLUDING KEBELCO
    * UP TO SEK 100 MILLION (APPROX. EUR 9 MILLION) OF TOTAL
PURCHASE
PRICE CAN BE PAID IN ASPO'S SHARES AND REST IN CASH
    * BOARD OF DIRECTORS OF ASPO IS EXPECTED TO DECIDE ON ABOVE
DIRECTED SHARE ISSUE (IF ANY) TO TERA INVEST AB IN CONNECTION
WITH CLOSING OF TRANSACTION
    * SHARES POSSIBLY DIRECTED WILL BE SUBJECT TO A 3-YEAR
LOCK-UP
PERIOD, POSSIBLE EARNOUT WILL BE PAYABLE IN CASH IN 2026

Source text for Eikon:  ID:nGNE1nS8FM 
Further company coverage:  ASPO.HE 

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