Brief: IPH Says Deal To Acquire IP Agency Practice Of Smart & Biggar

IPH

18/08/2022 02:47

Aug 18 (Reuters) - IPH Ltd  IPH.AX :
    * AGREEMENT TO ACQUIRE IP AGENCY PRACTICE OF SMART & BIGGAR,
WHICH
WILL HOLD INTEREST IN LEGAL PRACTICE OF SMART & BIGGAR
    * CONSIDERATION FOR ACQUISITION IS  A$387M
    * TRANSACTION CONSIDERATION WILL BE FUNDED BY DEBT
FACILITIES,
CASH RESERVES AND ISSUANCE OF IPH SHARES TO VENDORS
    * AGREED AMENDED DEBT FACILITIES WITH ITS EXISTING BANK
FINANCIERS
AS PART OF TRANSACTION
    * IPH'S PRO FORMA TOTAL DRAWN DEBT POST TRANSACTION WILL BE
APPROXIMATELY A$390M

Source text for Eikon:  ID:nASX5F1bnx 
Further company coverage:  IPH.AX 

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