Brief: Recticel In Final Talks With Conzzeta To Acquire FoamPartner

Recticel SA

10/11/2020 06:05

Nov 10 (Reuters) - RECTICEL NV  RECT.BR :
    * ACQUISITION OF FOAMPARTNER
    * CASH DEAL FOR AN ENTERPRISE VALUE OF CHF 270 MILLION, CHF
20
MILLION OF PRICE BEING PAYABLE IN JANUARY 2022
    * FINAL AGREEMENTS WITH SWISS-LISTED CONZZETA AG TO ACQUIRE
100%
OF FOAMPARTNER
    * DEAL SEEN TO RESULT IN EUR 14 MILLION OF SYNERGY UPSIDE BY
2023,
WITH A RUN-RATE OF EUR 10 MILLION ACHIEVED BY END OF 2021
    * CLOSING OF TRANSACTION IS EXPECTED TO BE COMPLETED IN Q1
OF 2021

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