Brief: Jungheinrich To Acquire Storage Solutions Group

Jungheinrich AG

25/01/2023 06:45

Jan 25 (Reuters) - JUNGHEINRICH AG  JUNG_p.DE :
    * JUNGHEINRICH AG TO ACQUIRE STORAGE SOLUTIONS GROUP TO ADD
STRATEGIC FOOTHOLD IN FAST-GROWING U.S. WAREHOUSE AUTOMATION
MARKET
    * TO ACQUIRE STORAGE SOLUTIONS GROUP TO ADD STRATEGIC
FOOTHOLD IN
FAST-GROWING U.S. WAREHOUSE AUTOMATION MARKET
    * HAS SIGNED A BINDING SHARE PURCHASE AGREEMENT WITH MERIT
CAPITAL
PARTNERS, MFG PARTNERS AND MANAGEMENT OF INDIANA-BASED STORAGE
SOLUTIONS GROUP ("STORAGE SOLUTIONS") FOR ACQUISITION OF 100% OF
SHARE CAPITAL IN STORAGE SOLUTIONS
    * COMPLETION OF TRANSACTION, IS EXPECTED TO TAKE PLACE IN Q2
OF
2023
    * SAYS TOTAL CONSIDERATION AGREED UNDER SHARE PURCHASE
AGREEMENT
CONSISTS OF A PURCHASE PRICE OF APPROXIMATELY USD 375 MILLION
    * TOTAL CONSIDERATION AGREED UNDER SHARE PURCHASE AGREEMENT
CONSISTS OF A PURCHASE PRICE OF APPROXIMATELY USD 375 MILLION
(WHICH IS SUBJECT TO CUSTOMARY CLOSING ADJUSTMENTS) AND A
FLEXIBLE
    * EXECUTIVE BOARD AND SUPERVISORY BOARD OF JUNGHEINRICH HAVE
APPROVED TRANSACTION
    * COMPLETION OF TRANSACTION, WHICH IS EXPECTED TO TAKE PLACE
IN Q2
OF 2023, IS SUBJECT TO CUSTOMARY CLOSING CONDITIONS, INCLUDING
RECEIPT OF MERGER CONTROL CLEARANCE IN UNITED STATES

Source text for Eikon:  ID:nEQ1YW8KWa 
Further company coverage:  JUNG_p.DE 
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