Brief: Newlat Food Signs Deal To Buy Britain's Princes Limited For GBP 700 Mln

Newprinces SpA

27/05/2024 06:57

May 27 (Reuters) - Newlat Food SpA  NWLF.MI :
    * SIGNS DEAL TO BUY PRINCES LIMITED IN BRITAIN
    * CLOSING EXPECTED BY JULY END
    * CONSIDERATION FOR THE SALE IS GBP 700 MILLION, OF WHICH
GBP 650
MILLION IN CASH, GBP 50 IN NEWLAT SHARES
    * PURCHASE TO BE FINANCED WITH EUR 300 MILLION LOAN ISSUED
BY POOL
OF INTERNATIONAL BANKS
    * TO SELL 9,319,481 SHARES TO MITSUBISHI CORPORATION FOR EUR
6.30
PER SHARE
    * FOLLOWING ACQUISITION OF PRINCES, NEWLY FORMED ENTITY TO
BE
NAMED NEW PRINCES
    * NEW PRINCES SEES NET DEBT/EBITDA RATIO OF 1X BY END OF
2026
    * SEES NEW PRINCES FREE CASH FLOW OF OVER EUR 100 MILLION
BETWEEN
2024-2028
    * SEES NEW PRINCES' CONSOLIDATED EQUITY, FOLLOWING
COMPLETION OF
TRANSACTION, OF OVER EUR 700 MILLION

Further company coverage:  NWLF.MI 

 (Gdansk Newsroom)
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