Brief: Lumibird To Acquire Prima Industrie's High Power Laser And Semiconductor Businesses

Lumibird SA

16/05/2023 07:06

May 16 (Reuters) - Lumibird SA  LBIRD.PA :
    * LUMIBIRD ANNOUNCES AGREEMENT TO ACQUIRE PRIMA INDUSTRIE'S
HIGH
POWER LASER AND SEMICONDUCTOR BUSINESSES
    * THIS ACQUISITION GIVES LUMIBIRD A STRATEGIC ADVANTAGE IN
HIGH
POWER SEMICONDUCTOR AND FIBRE LASERS AND OPENS UP NEW MARKETS
    * CONVERGENT ACTIVITIES HAD A TURNOVER OF 15 MILLION EUROS
IN 2022
FOR A NEGATIVE EBITDA OF 1.5 MILLION EUROS
    * PARTIES EXPECT TRANSACTION TO BE COMPLETED IN SECOND HALF
OF
2023, SUBJECT TO REGULATORY APPROVALS IN ITALY AND US
    * LUMIBIRD WILL FINANCE ITS ACQUISITION THROUGH ITS
AVAILABLE CASH
OR BY DRAWING ON BANK LINES AVAILABLE TO GROUP, IN COMPLIANCE
WITH COVENANTS

Source text for Eikon:  ID:nGNE5LsQRt 
Further company coverage:  LBIRD.PA 

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