Brief: Flügger Gains Majority Stake In Eskaro Group

Flugger A/S

24/11/2020 10:25

Nov 24 (Reuters) - Flugger group A/S  FLUGb.CO :
    * FLÜGGER GAINS MAJORITY STAKE IN EASTERN EUROPEAN PAINT
GROUP
    * ENTERED INTO AN AGREEMENT TO INVEST IN ESKARO GROUP
GAINING 70%
OF THE SHARES IN ESKARO GROUP AB
    * FULL APPROVAL IS EXPECTED TO BE GRANTED IN EARLY 2021.
    * TRANSACTION WILL PUT ESKARO'S VALUE AT DKK 350 MILLION ON
A
DEBT-FREE BASIS
    * FLÜGGER PAYS A TOTAL CONSIDERATION OF DKK 208 MILLION FOR
A 70%
SHARE WHICH IS PARTLY REACHED BY PURCHASE OF SHARES AND PARTLY
BY CAPITAL INCREASE.
    * TRANSACTION COSTS RELATING TO DEAL ARE EXPECTED TO TOTAL
APPROXIMATELY DKK 8 MILLION.
    * ACQUISITION OF ESKARO IS EXPECTED TO HAVE A POSITIVE
EFFECT ON
FLÜGGER GROUP A/S'S REVENUE AND EARNINGS IN 2020/21 FINANCIAL
YEAR

Source text: https://bit.ly/3mdX1Df
Further company coverage:  FLUGb.CO 

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