Brief: Electrolux Professional Group To Acquire Tosei Corporation

Electrolux Professional AB (publ)

22/12/2023 05:21

Dec 22 (Reuters) - Electrolux Professional AB (publ)
 EPROb.ST :
    * ELECTROLUX PROFESSIONAL GROUP TO ACQUIRE TOSEI CORPORATION
    * SAYS DEAL FOR APPROXIMATELY SEK 1,650M (JPY 23.25BN) ON A
CASH
AND DEBT FREE
    * ACQUISITION AND INTEGRATION RELATED COSTS ARE EXPECTED TO
BE SEK
40 - 60M IN TOTAL DURING 2024 AND 2025
    * ELECTROLUX PROFESSIONAL - AFTER SYNERGIES, EBITA-MARGIN IS
EXPECTED TO BE WELL IN LINE WITH ELECTROLUX PROFESSIONAL'S
EBITA-TARGET OF 15%
    * ACQUISITION IS INTENDED TO BE FINANCED BY A NEW BRIDGE
FACILITY
    * NET DEBT/EBITDA RATIO AFTER ACQUISITION IS EXPECTED TO
STAY
BELOW 2.5X
    * ELECTROLUX PROFESSIONAL AB  - TOSEI EXPECTED TO CONTINUE
ITS
OPERATIONS, WILL BE REPORTED AS PART OF CO'S LAUNDRY SEGMENT &
FOOD & BEVERAGE SEGMENT

Source text for Eikon:  ID:nWkr1PsQdF 
Further company coverage:  EPROb.ST 

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