Brief: JOST Acquires Crenlo Do Brasil

Jost Werke SE

30/08/2023 13:31

Aug 30 (Reuters) - JOST WERKE SE  JST.DE :
    * ACQUIRES CRENLO DO BRASIL AND ACCELERATES STRATEGIC GROWTH
WITH
PRODUCTS FOR AGRICULTURAL MACHINERY
    * TRANSACTION WILL BE FINANCED THROUGH A COMBINATION OF CASH
AND
EXISTING CREDIT LINES
    * SIGNED A PURCHASE AGREEMENT TO ACQUIRE 100 % OF SHARE
CAPITAL IN
TAXI BRAZIL HOLDINGS B.V., NETHERLANDS, SOLE SHAREHOLDER OF
CRENLO.
    * JOST EXPECTS LEVERAGE (NET DEBT TO LTM ADJUSTED EBITDA) TO
INCREASE SLIGHTLY COMPARED TO 1.18X REPORTED AS OF JUNE 30,
2023, BUT IT WILL REMAIN WELL WITHIN TARGET CORRIDOR OF 1.0X TO
2.0X

Source text for Eikon:  ID:nEQ3Yllva 
Further company coverage:  JST.DE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))