Brief: Elanders expects lower results for third quarter
10/10/2017 08:30
Oct 10 (Reuters) - ELANDERS ELANb.ST :
* REG-ELANDERS AB: ELANDERS MAKES ADDITIONAL ACQUISITION IN ASIA, BUT EXPECTS LOWER RESULT
FOR THE THIRD QUARTER
* SIGNED A CONTRACT FOR ACQUISITION OF 80% OF SHARES IN HONG KONG-BASED COMPANY ASIAPACK
LIMITED. T
* ASIAPACK WILL BECOME PART OF BUSINESS AREA SUPPLY CHAIN SOLUTIONS AND IS EXPECTED TO
CONTRIBUTE POSITIVELY TO EARNINGS PER SHARE STARTING FROM 1 JANUARY 2018
* PURCHASE PRICE FOR SHARES IS AROUND MSEK 50 ON A DEBT-FREE BASIS AND ACQUISITION WILL BE
FINANCED THROUGH CASH AND LOANS
* OPERATING RESULT FOR Q3 2017 WILL BE LOWER THAN Q3 IN 2016
* HAS AN OPTION TO ACQUIRE REMAINING SHARES IN 2020
* PRELIMINARY OPERATING RESULT FOR Q3 2017 IS ANTICIPATED TO BE AT MSEK 40 COMPARED TO MSEK
100 FOR CORRESPONDING PERIOD IN 2016
Source text for Eikon: ID:nGNEd4L0X
Further company coverage: ELANb.ST
(Gdynia Newsroom)
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