Brief: Recticel To Buy Thermal Insulation Board Business Of GOR-STAL For About EUR 30 Mln

Recticel SA

19/03/2021 06:04

March 19 (Reuters) - Recticel NV  RECT.BR :
    * RECTICEL EXPANDS ITS INSULATION ACTIVITIES WITH ACQUISITION OF THERMAL
INSULATION BOARD BUSINESS OF GÓR-STAL
    * ACQUISITION WILL BE MADE IN CASH FOR AN ENTERPRISE VALUE OF EUR 30 MILLION
    * WILL BE PAYABLE AT CLOSING AND EUR 2.75 MILLION PAYABLE IN TWO EQUAL
TRANCHES IN
2022 AND 2023
    * ACQUISITION WILL LEAD TO ACCELERATED EXPANSION INTO THE CENTRAL AND
EASTERN
EUROPEAN MARKETS, WHERE RECTICEL WAS SO FAR NOT PRESENT
    * CLOSING OF TRANSACTION IS EXPECTED TO BE COMPLETED BY JULY 2021


Further company coverage:  RECT.BR 

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