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GZL - Gazal News Story

A$6.17 0.0  0.0%

Last Trade - 17/05/19

Sector
Consumer Cyclicals
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £12.4m
Position in Universe th / 1829

BRIEF-PVH Corp Announces Agreement To Acquire Gazal Corp Limited

Thu 21st February, 2019 4:09am
Feb 20 (Reuters) - Pvh Corp  PVH.N :
    * PVH CORP ANNOUNCES AGREEMENT TO ACQUIRE GAZAL CORPORATION
LIMITED
    * AGGREGATE NET PURCHASE PRICE FOR APPROXIMATELY 78% OF
GAZAL
SHARES BEING ACQUIRED IS APPROXIMATELY A$124 MILLION
    * PROPOSED ACQUISITION TO GIVE PVH FULL CONTROL OF ITS
BRANDS IN
AUSTRALIA
    * TRANSACTION IS EXPECTED TO RESULT IN A MATERIAL INCREASE
TO
PVH'S 2019 EARNINGS PER SHARE ON A GAAP BASIS
    * PVH WOULD ACQUIRE INTERESTS IN GAZAL CORPORATION THAT IT
DOES
NOT ALREADY OWN FOR A$6.00 PER SHARE
    * EXCLUDING NONCASH GAIN, TRANSACTION IS EXPECTED TO BE
SLIGHTLY
ACCRETIVE TO PVH'S 2019 EARNINGS ON A NON-GAAP BASIS
    * IF ACQUISITION IS CONSUMMATED, PVH WILL ACQUIRE ITS JOINT
VENTURE WITH GAZAL, "PVH BRANDS AUSTRALIA PTY LIMITED"

Source text for Eikon:  ID:nBwb8fZ6ga 
Further company coverage:  PVH.N 

 ((Reuters.Briefs@thomsonreuters.com;))
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