Brief: Lectra Enters Into A Memorandum Of Understanding To Acquire Gerber Technology

Lectra SA

08/02/2021 07:22

Feb 8 (Reuters) - LECTRA SA  LECS.PA :
    * LECTRA ENTERS INTO A MEMORANDUM OF UNDERSTANDING TO
ACQUIRE
GERBER TECHNOLOGY
    * UNDER PROPOSED ACQUISITION, LECTRA WOULD ACQUIRE ALL
OUTSTANDING
SHARES OF GERBER TECHNOLOGY ON A CASH-FREE DEBT-FREE BASIS FOR
AN UPFRONT PAYMENT OF 175 MILLION EUROS
    * DANIEL HARARI WOULD CONTINUE TO BE CHAIRMAN AND CHIEF
EXECUTIVE
OFFICER OF LECTRA
    * GERBER TECHNOLOGY CHIEF EXECUTIVE OFFICER, MOHIT UBEROI,
WOULD
ASSUME SPECIAL ADVISOR TO DANIEL HARARI ROLE UNTIL END-2021
    * LAZARD IS ACTING AS EXCLUSIVE FINANCIAL ADVISOR TO LECTRA,
AND
LATHAM & WATKINS AS LEGAL COUNSEL TO LECTRA
    * 5 MILLION NEWLY ISSUED LECTRA SHARES TO AIPCF VI LG
FUNDING, LP
IN ADDITION TO UPFRONT PAYMENT
    * LECTRA EXPECTS TRANSACTION TO BE ACCRETIVE FOR
SHAREHOLDERS FROM
2022
    * UPON CLOSING, DANIEL HARARI WOULD OWN C. 14.6% OF LECTRA
SHARES
AND AIPCF VI LG WOULD OWN C. 13.3%

Source text for Eikon:  ID:nGNE5bTcDf 
Further company coverage:  LECS.PA 

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