Brief: Momentum Group Acquires Askalon

Momentum AB

22/05/2023 13:18

May 22 (Reuters) - Momentum Group AB  MMGRb.ST :
    * MOMENTUM GROUP ACQUIRES ASKALON – TAKES AN IMPORTANT
POSITION IN
INDUSTRIAL VALVES 
    * SIGNED AN AGREEMENT TO INITIALLY ACQUIRE 93.7 PERCENT OF
SHARES
IN ASKALON AB FROM FOUNDING WARNQVIST FAMILY
    * PURCHASE PRICE FOR 100 PERCENT OF SHARES AMOUNTS TO SEK
240
MILLION (ENTERPRISE VALUE)
    * ACQUISITION IS EXPECTED TO HAVE A POSITIVE IMPACT ON
MOMENTUM
GROUP'S EARNINGS PER SHARE DURING CURRENT FINANCIAL YEAR.
    * CLOSING IS EXPECTED TO TAKE PLACE IN EARLY JUNE 2023
    * INITIALLY ACQUIRES 93.7 PERCENT OF SHARES FROM PEAB
PROCESS AB
(OWNED BY WARNQVIST FAMILY)
    * WILL ACQUIRE REMAINING 6.3 PERCENT OF SHARES IN 2025
    * PURCHASE PRICE IS FINANCED THROUGH EXISTING CREDIT
FACILITIES,
OF WHICH 93.7 PERCENT WILL BE PAID TODAY AND 6.3 PERCENT IN 2025

Source text for Eikon:  ID:nMFN4TfCPm 
Further company coverage:  MMGRb.ST 

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