Brief: Comvita To Acquire Remaining 49 Pct Of Its China Joint Venture

Comvita

09/04/2019 22:34

April 10 (Reuters) - Comvita Ltd  CVT.NZ :
    * ENTERED INTO A AGREEMENT TO ACQUIRE REMAINING 49% OF ITS
CHINA
JOINT VENTURE
    * COMVITA WILL ACQUIRE JV THROUGH ISSUE OF 4.05M NEW COMVITA
ORDINARY SHARES AND AN ADDITIONAL CASH PAYMENT OF $3.19M
    * ACQUISITION WILL BE EARNINGS ACCRETIVE IMMEDIATELY ON A
PER
SHARE BASIS.
    * GROSS PROFIT MARGIN FOR COMVITA WILL INCREASE AS A RESULT
OF
PURCHASE
    * THERE IS ALSO LIKELY TO BE A SIGNIFICANT POSITIVE ONE-OFF
IMPACT
ON COMVITA'S FY19 NON-OPERATING PROFIT
    * ALL FIGURES IN NZ$

Source text for Eikon:  ID:nNZW5QhdTn 
Further company coverage:  CVT.NZ 

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