Brief: Ferronordic Signs Final Agreements To Become Dealer For Volvo And Renault Trucks In Germany

Ferronordic AB

20/12/2019 12:07

Dec 20 (Reuters) - Ferronordic AB  FNMA.ST :
    * FERRONORDIC SIGNS FINAL AGREEMENTS TO BECOME DEALER FOR
VOLVO
AND RENAULT TRUCKS IN GERMANY
    * FERRONORDIC HAS ALSO COMPLETED ACQUISITION OF ELEVEN SITES
IN
GERMANY
    * FERRONORDIC WILL START OPERATIONS IN GERMANY IN JANUARY
2020
    * ESTABLISHMENT IN GERMANY IS FINANCED WITH LOANS FROM
NORDEA BANK
    * PURCHASE PRICE FOR ASSETS FROM VOLVO AND SHARES IN
AUTO-HAAS
AMOUNTS TO APPROX. SEK 195M
    * FERRONORDIC HAS ALSO ENTERED INTO AN AGREEMENT WITH NORDEA
BANK
FOR A EUR 30M LOAN FACILITY
    * PURCHASE PRICE IS APPROX. SEK 85M LOWER THAN PREVIOUSLY
ESTIMATED, MAINLY BECAUSE INVENTORIES ACQUIRED FROM VOLVO ARE
LOWER THAN PREVIOUSLY EXPECTED, AND BECAUSE FERRONORDIC DOES NOT
TAKE OVER ACCOUNTS RECEIVABLES FROM VOLVO

Source text for Eikon:  ID:nWkrbmK53R 
Further company coverage:  FNMA.ST 

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