Brief: Fiskars Group Acquires Georg Jensen

Fiskars

14/09/2023 06:36

Sept 14 (Reuters) - Fiskars Oyj Abp  FSKRS.HE :
    * INSIDE INFORMATION: FISKARS GROUP EXPANDS ITS PORTFOLIO OF
LUXURY BRANDS BY ACQUIRING GEORG JENSEN
    * ACQUIRING 100% OF SHARES OF GEORG JENSEN INVESTMENT APS
FOR DEBT
FREE, CASH FREE PURCHASE PRICE (ENTERPRISE VALUE) OF EUR 151.5
MILLION
    * TRANSACTION WILL BE PAID IN CASH AND FINANCED WITH DEBT
    * CLOSING OF TRANSACTION IS EXPECTED TO BE IN BEGINNING OF
Q4
2023, SUBJECT TO CUSTOMARY CLOSING CONDITIONS.
    * ANTICIPATES ITS GUIDANCE TO BE NEGATIVELY AFFECTED BY
IMPACT OF
TRANSACTION'S PURCHASE PRICE ALLOCATION
    * EXPECTED TRANSACTION COSTS OF APPROXIMATELY EUR 5 MILLION
WILL
BE RECORDED IN Q4 2023 AND REPORTED AS ITEMS AFFECTING
COMPARABILITY
    * INTEGRATION RELATED COSTS ARE EXPECTED TO BE EUR 10
MILLION AND
TO BE REALIZED IN 2024-2026
    * TRANSACTION IS EXPECTED TO CREATE SIGNIFICANT COST
SYNERGIES
RELATED TO, FOR EXAMPLE, SUPPORT FUNCTIONS AND SOURCING
    * ANNUAL SYNERGIES ARE EXPECTED TO AMOUNT TO APPROXIMATELY
EUR 18
MILLION, MAJORITY OF WHICH IS EXPECTED TO BE REALIZED BY END OF
2025

Source text for Eikon:  ID:nWkr2hp7HY 
Further company coverage:  FSKRS.HE 

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