Brief: Recticel Expands Insulation Activities, Buys Panel Specialist Trimo

Recticel SA

22/03/2022 06:06

March 22 (Reuters) - Recticel NV  RECT.BR :
    * RECTICEL EXPANDS ITS INSULATION ACTIVITIES WITH
ACQUISITION OF
INSULATED PANEL SPECIALIST TRIMO
    * FINANCING IS SECURED BY EXISTING CREDIT FACILITIES, AND
ULTIMATELY BY PROCEEDS FROM DISPOSALS OF BEDDING AND ENGINEERED
FOAMS BUSINESS LINES, EXPECTED TO CLOSE RESPECTIVELY AT END OF
1Q2022 AND AROUND MID-2022
    * CLOSING OF TRANSACTION IS EXPECTED TO BE COMPLETED IN Q3
OF
2022.
    * HAS ENTERED INTO FINAL AGREEMENTS WITH CENTRAL EUROPEAN
PRIVATE
EQUITY FUND INNOVA CAPITAL TO ACQUIRE 100% OF TRIMO D.O.O. IN
CASH FOR AN ENTERPRISE VALUE OF EUR 164.3 MILLION
    * TRANSACTION IS SUBJECT TO CUSTOMARY CONDITIONS PRECEDENT,
INCLUDING REGULATORY APPROVALS

Source text: https://bit.ly/3udMm0t
Further company coverage:  RECT.BR 

 (Gdansk Newsroom)