Brief: Piovan Signs Deal To Acquire 100% Of IPEG owner Sewickley Capital

Piovan SpA

13/12/2021 07:30

Dec 13 (Reuters) - Piovan SpA  PVNA.MI :
    * SIGNS DEAL WITH IPEG FOR ACQUISITION OF 100% OF SHARES OF
SEWICKLEY CAPITAL
    * PURCHASE PRICE OF TRANSACTION CONSISTS OF INITIAL PAYMENT
OF
APPROX. USD 125 MILLION, ON A CASH FREE / DEBT FREE BASIS
    * SEWICKLEY CAPITAL IS OWNER OF 100% OF IPEG
    * PURCHASE PRICE CONSISTS OF PAYMENT OF POTENTIAL EARN-OUT
UP TO
APPROX. USD 22 MILLION TO BE PAID IN 2024

Further company coverage:  PVNA.MI 

 (Reporting by Gdansk Newsroom)
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