Brief: H+H International to buy 99.19% of Grupa Ozarow's calcium silicate business

H+H International A/S

07/07/2017 11:00

July 7 (Reuters) - H+H INTERNATIONAL A/S  HHDC.CO : 
    * SIGNS AGREEMENT TO ACQUIRE GRUPA OARÓW SA'S CALCIUM 
SILICATE BUSINESS IN POLAND 
    * SIGNS CONDITIONAL AGREEMENT WITH GRUPA OARÓW S.A. TO BUY 
99.19% OF SHARES IN ITS POLISH CALCIUM SILICATE SUBSIDIARY, 
GRUPA SILIKATY SP. Z O.O. 
    * AS TRANSACTION IS EXPECTED TO BE CLOSED END OF 2017, 
FINANCIAL IMPACT ON P&L FOR YEAR IS INSIGNIFICANT 
    * PURCHASE PRICE WILL BE PAID ACCORDING TO A DEFERRED 
PAYMENT SCHEDULE WITH INSTALMENTS BEING PAID AT CLOSING (APPROX. 
DKK 14 MILLION) AND BY END OF JANUARY 2019 AND 2020, 
RESPECTIVELY (EACH APPROX. DKK 25 MILLION) 
    * INTEGRATION COSTS, RECOGNISED AS SPECIAL ITEMS, ARE 
EXPECTED TO BE APPROXIMATELY DKK 5 MILLION 
    * TRANSACTION WILL CREATE A STRONG AIRCRETE AND CALCIUM 
SILICATE BUSINESS IN POLAND AND IS EXPECTED TO CAPTURE 
"SIGNIFICANT" SALES SYNERGIES 
    * THERE ARE NO CHANGES TO LONG-TERM FINANCIAL TARGETS 
 
Source text for Eikon:  ID:nCSE6ZWN  
Further company coverage:  HHDC.CO  
 
 (Gdynia Newsroom) 
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