Brief: Beijer Electronics Acquires The German Company ELTEC

Ependion AB

17/03/2021 12:33

March 17 (Reuters) - Beijer Electronics Group AB  BELE.ST :
    * BEIJER ELECTRONICS GROUP ACQUIRES THE GERMAN COMPANY ELTEC
    * HAS TODAY AGREED TO ACQUIRE 100% OF GERMAN COMPANY ELTEC
ELEKTRONIK AG, A TECHNOLOGY COMPANY SPECIALIZED IN WIRELESS
COMMUNICATION FOR CONNECTED TRAINS
    * ACQUISITION IS EXPECTED TO CLOSE AS OF APRIL 2021
    * PURCHASE PRICE AMOUNTS TO 10.5 MEUR ON A CASH/DEBT-FREE
BASIS
AND PAID IN CASH AND FINANCED WITHIN GROUP'S EXISTING FINANCING
AGREEMENT
    * ACQUISITION WILL HAVE LIMITED IMPACT ON BEIJER GROUP'S
EARNINGS
IN 2021
    * ACQUISITION IS EXPECTED TO CONTRIBUTE IN 2022 AND FORWARD
IN
LINE WITH WESTERMO'S PROFITABILITY LEVEL

Source text for Eikon:  ID:nWkr8k9vQ 
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