Brief: Metcash Announces Strategic Acquisitions And Equity Raising

Metcash

05/02/2024 24:32

Feb 5 (Reuters) - Metcash Ltd  MTS.AX :
    *  STRATEGIC ACQUISITIONS AND EQUITY RAISING
    * ENTERED INTO BINDING AGREEMENTS TO ACQUIRE THREE
STRATEGICALLY
ALIGNED BUSINESSES
    * ACQUISITION OF SUPERIOR FOOD
    * ACQUISITIONS EXPECTED TO BE ACCRETIVE TO METCASH’S MARGINS
    * METCASH LTD - UNDER DEAL, TOTAL POTENTIAL ENTERPRISE VALUE
OF UP
TO A$412.3M
    * OFFER FUNDED VIA FULLY UNDERWRITTEN INSTITUTIONAL
PLACEMENT OF
A$300M, EXISTING CASH AND AVAILABLE DEBT FACILITIES
    * ACQUISITION EXPECTED TO BE MID-SINGLE DIGIT EPS ACCRETIVE
ON A
PRO-FORMA OCT-23 LTM BASIS INCLUDING SYNERGIES
    * A NON-UNDERWRITTEN SHARE PURCHASE PLAN OF UP TO A$25M IS
MADE
AVAILABLE
    * EXPECTED ANNUALISED SYNERGIES OF ACQUISTIONS A$19M

Source text for Eikon:  ID:nASX5Q6jbB 
Further company coverage:  MTS.AX