Brief: Efore Agrees To Acquire Powernet International

Enedo Oyj

21/11/2018 13:48

Nov 21 (Reuters) - EFORE PLC  EFO1V.HE :
    * REG-EFORE PLC HAS SIGNED AN AGREEMENT TO ACQUIRE POWERNET
INTERNATIONAL OY AND CONTINUES WITH PREPARATIONS OF RIGHTS
OFFERING
    * IN ORDER TO FINANCE ACQUISITION OF POWERNET AND TO
STRENGTHEN
BALANCE SHEET AND WORKING CAPITAL, CONTINUES WITH RIGHTS
OFFERING
    * PURCHASE PRICE ON A CASH AND DEBT FREE BASIS (ENTERPRISE
VALUE)
IS EUR 4.5 MILLION
    * ADDITIONALLY, PARTIES HAVE AGREED ON AN EARN-OUT.
    * INTENDS TO EXECUTE RIGHTS OFFERING DURING 2018.
    * EFORE - PURCHASE PRICE ON A CASH AND DEBT FREE BASIS
(ENTERPRISE
VALUE) IS EUR 4.5 MILLION, PURCHASE PRICE FOR SHARES AT CLOSING
OF TRANSACTION IS EUR 2.5 MILLION
    * MAX AMOUNT OF EARN-OUT IS EUR 1.5 MILLION AND MAY BE PAID
BASED
ON POWERNET GROUP'S CONSOLIDATED SALES MARGIN FOR FINANCIAL YEAR
2019

Source text for Eikon:  ID:nGNE4fcLsJ 
Further company coverage:  EFO1V.HE 

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