Brief: Broedrene Hartmann acquires Sanovo Greenpack

Broedrene Hartmann A/S

01/12/2014 09:31

Dec 1 (Reuters) - Broedrene Hartmann A/S  HARTb.CO : 
    * Brødrene Hartmann A/S strengthens its global position 
through the acquisition of Sanovo Greenpack 
    * Says in 2014, Sanovo Greenpack is expected to generate 
revenue of around 400 million Danish crowns and operating profit 
at level of 45 million crowns based on current exchange rates 
    * Entered into an agreement with Lactosan Sanovo Holding A/S 
to purchase its South American moulded-fibre activities 
    * Says transaction, which is expected to close in early 
2015, is binding and will strengthen Hartmann's earnings 
per share (EPS) already next year 
    * Says purchase price for shares in Sanovo Greenpack is 300 
million crowns, corresponding to an EBITDA multiple of 5.5, and 
is financed through bank loans 
    * Says Hartmann's current dividend policy is maintained 
    * Maintains its expectations of revenue of 1.6-1.7 billion 
crowns and a profit margin of 9.0-10.5 pct for 2014 
 
Source text for Eikon:  ID:nHUGbsxl6J  
Further company coverage:  HARTb.CO  
 
 (Gdynia Newsroom) 
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Keywords: HARTMANN/BRIEF