Brief: Jost Werke Acquires Ålö Holding For An Enterprise Value Of 250 Mln Euros

Jost Werke SE

12/12/2019 23:25

Dec 12 (Reuters) - JOST Werke AG  JSTG.DE :
    * DGAP-ADHOC: JOST WERKE AG: ​​​​​​​JOST ACQUIRES ÅLÖ
HOLDING AB,
ONE OF THE WORLD'S LEADING MANUFACTURERS OF AGRICULTURAL FRONT
LOADERS
    * AGREED PURCHASE PRICE CORRESPONDS TO AN ENTERPRISE VALUE
OF EUR
250 MILLION
    * JOST HAS SIGNED A PURCHASE AGREEMENT TO ACQUIRE 100 % OF
SHARE
CAPITAL IN ÅLÖ HOLDING AB
    * ACQUISITION IS EXPECTED TO BE ACCRETIVE TO JOST'S EARNINGS
ALREADY IN 2020
    * TRANSACTION WILL BE FINANCED THROUGH A COMBINATION OF
CASH,
EXISTING CREDIT LINES AND A NEW TERM LOAN
    * FOR 2019, ÅLÖ EXPECTS REVENUES OF AROUND EUR 200 MILLION
    * FUTURE SYNERGIES WITH JOST ARE NOT YET INCLUDED IN
EXPECTATIONS
FOR 2020
    * FOR 2019, ÅLÖ EXPECTS ADJUSTED EBITDA BETWEEN EUR 25
MILLION AND
EUR 26 MILLION
    * ON A STABLE REVENUE BASIS, IN 2020 ADJUSTED EBITDA IS
EXPECTED
TO GROW IN RANGE OF EUR 27 MILLION TO EUR 31 MILLION FOR ALO

Source text for Eikon:  ID:nEQ4FVwYDa 
Further company coverage:  JSTG.DE 

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