Brief: Iceland Seafood Acquires Ahumados Dominguez In Spain

Iceland Seafood Internat hf

17/09/2021 07:33

Sept 17 (Reuters) - Iceland Seafood International hf
 ICESEA.IC :
    * SAID ON THURSDAY HAS ACQUIRED AHUMADOS DOMINGUEZ IN SPAIN
    * AGREEMENT HAS BEEN FINALISED WITH THE MESTANZA FAMILY TO
ACQUIRE
AN 85% STAKE IN AHUMADOS DOMINGUEZ
    * STAKE IS ACQUIRED AT EUR 12.44 MLN, REPRESENTING A
VALUATION IN
LINE WITH AGREED LOI ANNOUNCED IN MAY
    * ICELAND SEAFOOD WILL FINANCE THE ACQUISITION WITH A
COMBINATION
OF DEBT AND EQUITY
    * PEDRO MESTANZA, WHO WILL CONTINUE TO LEAD THE COMPANY
AFTER THE
ACQUISITION, WILL HOLD A 15% MINORITY STAKE 
    * PEDRO MESTANZA HAS AN OPTION TO BUY ADDITIONAL 5% STAKE
FROM
ICELAND SEAFOOD WITHIN THE NEXT FIVE YEARS

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nGNE6WW7pT
 Further company coverage:  ICESEA.IC  
   


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