Brief: Groclin to acquire CADM Automotive Sp. z o.o.

Less SA

06/04/2016 08:02

April 6 (Reuters) - Groclin SA  GCN.WA : 
    * Signs an agreement with Michal Laska and CADM AUTOMOTIVE 2 
Sp. z o.o. to acquire 100 pct of CADM Automotive Sp. z o.o. in 
two tranches 
    * To buy 51 percent of the acquired company for 10.2 million 
zlotys ($2.7 million) on May 1 
    * The second stage of the acqusition to take place after 
aproving CADM Automotive Sp. z o.o.'s FY 2017 financial 
statements 
    * The value of the second stage of the acqusition to be at 7 
x  CADM Automotive Sp. z o.o.'s FY EBITDA, but not less than 9.8 
million zlotys 
    * The second tranche will be paid in cash (50 pct) and 
Groclin's shares (50 pct) 
 
Source text for Eikon:  ID:nEM0630450  
Further company coverage:  GCN.WA  
 
($1 = 3.7510 zlotys) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;))