Brief: Ituran's To Acquire Road Track Holding S.L

Ituran Location and Control

24/07/2018 13:42

July 24 (Reuters) - Ituran Location and Control Ltd
 ITRN.O :
    * ITURAN'S TO ACQUIRE ROAD TRACK HOLDING S.L - A TELEMATICS
COMPANY OPERATING PRIMARILY IN LATIN AMERICA
    * ITURAN LOCATION AND CONTROL LTD - WILL PAY SHAREHOLDERS OF
ROAD
TRACK HOLDING S.L $91.7 MILLION FOR 81.3% OF COMPANY
    * ITURAN LOCATION AND CONTROL - FOLLOWING DEAL , CO'S ANNUAL
REVENUES RUN-RATE EXPECTED TO BE CLOSE TO $400 MILLION WITH A
SUBSCRIBER BASE OF ABOUT 1.8 MILLION
    * ITURAN LOCATION AND CONTROL - $75.7 MILLION WILL BE PAID
IN
CASH, THROUGH DEBT FACILITY BY LENDING BANK
    * ITURAN LOCATION AND CONTROL LTD - ADDITIONAL $12 MILLION
WILL BE
PAID IN ITURAN SHARES
    * ITURAN LOCATION AND CONTROL - $4 MILLION TO BE PAID OUT OF
EQUITY AS BONUS OVER 3 YEARS TO SENIOR MANAGEMENT OF ROAD TRACK
HOLDING
    * ITURAN LOCATION AND CONTROL LTD - FOLLOWING THREE YEARS OF
JOINT
OPERATIONS, ITURAN WILL PURCHASE REMAINDER OF ROAD TRACK'S
SHARES

Source text for Eikon:  ID:nPn31m4s3a 
Further company coverage:  ITRN.O 

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