Brief: Byggpartner I Dalarna To Acquire Flodén Byggnads AB

ByggPartner Gruppen AB (publ)

12/04/2022 07:17

April 12 (Reuters) - ByggPartner i Dalarna Holding AB (publ)  BYGGP.ST :
    * SIGNED A CONDITIONAL AGREEMENT TO ACQUIRE FLODÉN BYGGNADS AB WITH OPERATIONS IN THE
GOTHENBURG
REGION
    * SELLERS ARE ERNST ROSÉN AB WITH ABOUT 77% HOLDING, PLUS NUMBER OF EMPLOYEES HOLDING TOTAL
OF
ABOUT 23%
    * INITIAL PURCHASE PRICE CORRESPONDS TO A COMPANY VALUE OF SEK 200 MILLION ON CASH AND
DEBT-FREE
BASIS
    * PURCHASE PRICE TO BE PAID PARTIALLY IN CASH AND PARTIALLY VIA PROMISSORY NOTE 
    * PROMISSORY NOTE OF SEK 125 MLN WILL LATER ON BE SET OFF WITH SHARES IN BYGGPARTNER ISSUED
AT SEK
85.50 PR SHARE
    * SET-OFF ISSUE TO COMPRISE 1.5 MLN SHARES IN BYGGPARTNER AND CORRESPOND TO DILUTION OF
8.4%, OF
WHICH ERNST ROSÉN AB TO OWN 6.5% OF SHARES ASSUMING COMPLETION OF CONDITIONAL ACQUISITION OF
SHARES IN ÅHLIN & EKEROTH BYGGNADS AB  urn:newsml:reuters.com:*:nL5N2W417B
    * DEAL ALSO INCLUDES EARN-OUT OF UP TO SEK 50 MLN DEPENDING ON PROFIT DEVELOPMENT IN FLODÉN
BYGGNADS AB IN 2022 AND 2023, TO BE PAID IN 2024
    * BYGGPARTNER WILL TAKE OVER THE SHARES IN FLODÉN BYGGNADS AB ON JULY 1, 2022
    * ACQUISITION IS EXPECTED TO POSITIVELY AFFECT BYGGPARTNER'S EARNINGS PER SHARE IN 2022

Source text for Eikon:  ID:nMFN3NQpFs 
Further company coverage:  BYGGP.ST 

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