Brief: Boreo Acquires Milcon Oy

Boreo Oyj

20/05/2021 07:36

May 20 (Reuters) - Boreo Oyj  BOREO.HE :
    * ACQUIRES MILCON OY
    * MILCON WILL CONTINUE TO OPERATE INDEPENDENTLY AS PART OF
BOREO
GROUP AND JANNE KORPINEN WILL CONTINUE AS MILCON'S PRESIDENT AND
CEO
    * FIXED PURCHASE PRICE TO BE PAID FOR ALL SHARES IS ABOUT
EUR 1.5
MILLION AND DEBT-FREE PURCHASE PRICE IS ABOUT EUR 1.25 MILLION
    * FIXED PURCHASE PRICE TO BE PAID IN CASH AT TIME OF
TRANSACTION
AND BY EXECUTING DIRECTED SHARE ISSUE OF 10,000 BOREO SHARES TO
JANNE KORPINEN
    * BOREO FINANCES THE PAYMENT OF THE CASH PURCHASE PRICE WITH
THE
GROUP'S LIQUID ASSETS
    * IN ADDITION, BOREO WILL PAY AN ADDITIONAL PURCHASE PRICE
OF UP
TO EUR 0.6 MILLION, BASED ON DEVELOPMENT OF MILCON'S BUSINESS IN
2021-2023
    * TRANSACTION HAS NO IMPACT ON BOREO'S STRATEGIC OBJECTIVES
AND IS
EXPECTED TO BE COMPLETED ON JUNE 1

Source text for Eikon:  ID:nGNE4QFBdL 
Further company coverage:  BOREO.HE 

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