Brief: LACROIX To Acquire U.S. Company FIRSTRONIC

Lacroix SA

17/12/2021 06:34

Dec 17 (Reuters) - Lacroix Group SA  LACR.PA :
    * ANNOUNCED ON THURSDAY THE ACQUISITION OF FIRSTRONIC IN THE
US
    * CO-INVESTING ALONGSIDE LACROIX, BPIFRANCE WILL TAKE A 26%
STAKE
IN FIRSTRONIC THROUGH ITS INTERNATIONAL BUILD-UP FUND 
    * COMBINATION OF LACROIX AND FIRSTRONIC AIMS TO CREATE THE
FRENCH
LEADER IN EMS (ELECTRONICS MANUFACTURING SERVICES)
    * INCORPORATING FIRSTRONIC SHOULD IMMEDIATELY PROVE
ACCRETIVE
WITHIN UPCOMING FINANCIAL YEAR, ESPECIALLY IN TERMS OF EBITDA
MARGIN
    * ESTABLISHING BASE IN DOLLAR REGION SHOULD ALSO PROVIDE
GROUP
WITH NATURAL HEDGE AGAINST EXCHANGE RATE VARIATIONS
    * JOHN SAMMUT TO REMAIN CEO OF FIRSTRONIC AND RETAIN 4% OF
SHARE
CAPITAL IN IT
    * JOCHEN LIPP, FIRSTRONIC COO, WILL TAKE AN EQUITY STAKE IN
FIRSTRONIC OF 3%
    * LACROIX, WHICH ALREADY HAS A 12.5% SHAREHOLDING, WILL RISE
ITS
EQUITY STAKE IN FIRSTRONIC TO 62% AT THE END OF THE OPERATION
    * END OF THIS OPERATION IS EXPECTED TO OCCUR VERY SOON

Source text for Eikon:  ID:nGNE41blHR 
Further company coverage:  LACR.PA 

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