Brief: Equita Group To Buy 70% Of K Finance

Equita SpA

09/07/2020 16:46

July 9 (Reuters) - Equita Group SpA  EQUI.MI :
    * SIGNS A BINDING AGREEMENT WITH THE FOUNDING PARTNERS OF K
FINANCE TO ACQUIRE A 70% STAKE.
    * TOTAL CONSIDERATION TO ACQUIRE 70% OF K HOLDING IS EURO
7.0
MILLION
    * EURO 6.5 MILLION WILL BE PAID AT CLOSING
    * REMAINING 30% MINORITY WILL BE SUBJECT TO PUT & CALL
OPTIONS
    * EURO 0.5 MILLION AS EARN-OUT SUBJECT TO THE ACHIEVEMENT OF
SPECIFIC NET PROFIT'S TARGETS FOR 2020 OR 2021 FISCAL YEAR
    * WILL FINANCE THE TRANSACTION WITH A MIX OF DEBT AND EQUITY
    * TRANSACTION IS ACCRETIVE IN TERMS OF EARNINGS PER SHARE -
EPS
(+9% PRO FORMA 2021)
    * CLOSING IS EXPECTED BY JULY 30, 2020
    * THE TOTAL CAPITAL RATIO WILL REMAIN WELL ABOVE 15%

Source text for Eikon:  urn:newsml:reuters.com:*:nBIA9Lv5lm
Further company coverage:  EQUI.MI 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))