Brief: New Wave Group Acquires B.T.C. Activewear

New Wave AB

02/09/2022 09:43

Sept 2 (Reuters) - New Wave Group AB  NEWAb.ST :
    * NEW WAVE GROUP AB (PUBL) ACQUIRES B.T.C. ACTIVEWEAR
LIMITED
    * CONSIDERATION FOR PURCHASE OF SHARES IS £33 MILLION ON A
CASH
AND DEBT FREE BASIS AND IS PAID IN CASH.
    * ACQUISITION WILL HAVE A POSITIVE IMPACT ON NEW WAVE
GROUP'S
RESULT ALREADY THIS CURRENT YEAR BUT WILL HAVE A NEGATIVE IMPACT
ON GROUP'S GROSS AND OPERATING MARGIN, AS THESE ARE LOWER IN
B.T.C. ACTIVEWEAR THAN IN NEW WAVE GROUP
    * B.T.C. ACTIVEWEAR WILL BE A PART OF CORPORATE OPERATING
SEGMENT
WITH ITS PRIMARY FOCUS ON PROMO SALES CHANNEL

Source text for Eikon:  ID:nWkr5dtHdH 
Further company coverage:  NEWAb.ST 

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