Brief: Greenyard announces acquisition of Mykogen

Greenyard NV

14/06/2017 17:10

June 14 (Reuters) - GREENYARD NV  GREENY.BR : 
    * ANNOUNCES ACQUISITION OF MYKOGEN 
    * THE PURCHASE PRICE IS APPROXIMATELY  93 MILLION. 
    * TRANSACTION CLOSING IS EXPECTED TO OCCUR DURING THE SECOND 
HALF OF 2017 
    * IS FINANCING THE TRANSACTION FROM EXISTING CREDIT 
FACILITIES 
    * SELECTIVE NON-STRATEGIC AND NON-CORE ASSETS WITHIN THE 
FRESH SEGMENT WILL BE DIVESTED 
    * THE DIVESTMENTS ARE EXPECTED TO BE COMPLETED DURING THE 
SECOND HALF OF 2017 
    * DIVESTMENTS ARE ESTIMATED TO PROVIDE CASH PROCEEDS OF 
AROUND  25M WITH LIMITED IMPACT ON EBITDA (ACTIVITIES REPRESENT 
<2% OF GROUP EBITDA) 
    * AS A RESULT OF THE ACQUISITION AND DIVESTMENTS, EBITDA IS 
ANTICIPATED TO INCREASE BY 8%. 
    * AFTER THE ACQUISITION OF MYKOGEN AND THE DIVESTMENTS OF 
THE NON-CORE ASSETS, NET FINANCIAL DEBT IS EXPECTED TO BE 
APPROXIMATELY  390 MILLION VERSUS.  324.2 MILLION REPORTED FY 
16/17 
 
 
Further company coverage:  GREENY.BR  
 
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