Brief: Bilia Acquires Funnemark And Funnemark Sandefjord

Bilia AB

13/04/2021 07:50

April 13 (Reuters) - Bilia AB  BILIa.ST :
    * BILIA EXPANDS THE NUMBER OF TOYOTA FACILITIES IN NORWAY
THROUGH
ACQUISITION OF PARTS OF FUNNEMARK AS
    * TO ACQUIRE FUNNEMARK AS AND FUNNEMARK SANDEFJORD AS IN
NORWAY
    * COMPANIES ARE AUTHORIZED TOYOTA DEALERS
    * WILL TAKE OVER OPERATIONS CONDUCTED IN FIVE OF SEVEN
FACILITIES
    * ACQUISITION DOES NOT INCLUDE PROPERTIES WHERE BUSINESS IS
CONDUCTED
    * AGREEMENT IS SUBJECT TO APPROVAL BY NORWEGIAN COMPETITION
AUTHORITY
    * BUSINESS THAT IS ACQUIRED FOR FIVE FACILITIES REPORTED FOR
2020
A TURNOVER OF ABOUT NOK 1,200 M AND AN OPERATING PROFIT OF ABOUT
NOK 60 M
    * NUMBER OF EMPLOYEES FOR FIVE FACILITIES IS ABOUT 150
    * OPERATION'S CAPITAL EMPLOYED AND AGREED SURPLUS VALUES
AMOUNT TO
ABOUT NOK 320 M
    * BILIA GROUP'S CAPITAL EMPLOYED AND NET DEBT IS ESTIMATED
TO
INCREASE, RELATED TO ACQUISITION, BY ABOUT SEK 400 M
    * IS EXPECTING TO TAKE OVER OPERATIONS ON 30 APRIL 2021

Source text for Eikon:  ID:nGNE4FWXkJ 
Further company coverage:  BILIa.ST 

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