Brief: Carel Industries SpA Carel Signs A Binding Agreement To Acquire C. 82.4% Of Kiona Share Capital

Carel Industries SpA

24/07/2023 21:38

July 24 (Reuters) - Carel Industries SpA  CRLI.MI :
    * CAREL INDUSTRIES SPA - cAREL SIGNS A BINDING AGREEMENT TO
ACQUIRE C. 82.4% OF KIONA SHARE CAPITAL
    * CAREL INDUSTRIES SPA - ACQUISITION CONSIDERATION IMPLIES A
100%
ENTERPRISE VALUE OF NOK 2.35 BILLION (C. EUR 210M1) ON A
CASH-FREE DEBT-FREE BASIS
    * CAREL INDUSTRIES SPA - TRANSACTION IS EXPECTED TO BE
ENTIRELY
FUNDED WITH A MIX OF NEWLY COMMITTED DEBT FACILITIES
    * CAREL INDUSTRIES SPA - CLOSING IS EXPECTED BY 3Q-2023 AND
IS
SUBJECT TO OBTAINING REQUIRED REGULATORY APPROVALS
    * CAREL INDUSTRIES SPA - 2023 EXPECTED REVENUES OF
APPROXIMATELY
NOK 285M, AND A SOLID  TARGET EBITDA MARGIN 2023E IN THE RANGE
OF 20-25%

Source text for Eikon:  ID:nBIAc3TF2L 
Further company coverage:  CRLI.MI 

 ((Reuters.Briefs@thomsonreuters.com;))