Brief: Gram Car Carriers Acquires Mid-Size Car Carrier Paglia For $49 Mln

Gram Car Carriers ASA

31/10/2022 15:57

Oct 31 (Reuters) - Gram Car Carriers ASA  GCC.OL :
    * TO ACQUIRE MID-SIZE CAR CARRIER PAGLIA FOR USD 49 MILLION
    * SIGNED AGREEMENT TO ACQUIRE PURE CAR TRUCK CARRIER
"PAGLIA"
(5,000 CEU) FROM F. LAEISZ GMBH ( "SELLER") FOR A TOTAL
CONSIDERATION OF USD 49 MILLION
    * TRANSACTION IS EXPECTED TO FACILITATE INCREASED DIVIDEND
DISTRIBUTIONS OVER TIME, ADHERES TO CO'S STRATEGIC AIM OF
PURSUING ACCRETIVE GROWTH OPPORTUNITIES
    * OF TOTAL PURCHASE PRICE OF USD 49 MILLION, USD 39.2
MILLION WILL
BE SETTLED IN CASH
    * OF TOTAL PURCHASE PRICE, USD 9.8 MILLION WILL BE SETTLED
THROUGH
ISSUANCE OF 563,218 NEW GCC SHARES TO SELLER AT USD 17.4 PER
SHARE, DETERMINED THROUGH NET ASSET VALUE FRAMEWORK
    * SELLER WILL BE SUBJECT TO A 12-MONTH CUSTOMARY LOCK-UP ON
CONSIDERATION SHARES
    * COMPLETION OF TRANSACTION IS EXPECTED TO TAKE PLACE DURING
Q4 OF
2022

Source text for Eikon:  ID:nWkr2yvz2L 
Further company coverage:  GCC.OL 
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