Brief: Relais Acquires Swedish Strands Group

Relais Oyj

14/12/2020 07:44

Dec 14 (Reuters) - Relais Group Oyj  RELAIS.HE :
    * RELAIS GROUP PLC ACQUIRES SWEDISH STRANDS GROUP AB AND SIGNIFICANTLY STRENGTHENS ITS
LIGHTING
BUSINESS
    * CLOSING OF CORPORATE ACQUISITION IS ESTIMATED TO TAKE PLACE ON 5 JANUARY 2021
    * HAS SIGNED AN AGREEMENT ("PURCHASE AGREEMENT") ON ACQUISITION OF ENTIRE SHARE CAPITAL OF
SWEDISH
COMPANY STRANDS GROUP AB
    * PURCHASE PRICE OF ENTIRE STOCK OF STRANDS IS ESTIMATED AT SEK 182,200,000, WHICH WILL BE
ADJUSTED AS PER TERMS OF PURCHASE AGREEMENT
    * APPROXIMATELY SEK 40,700,000 OF PURCHASE PRICE WILL BE PAID BY SHARES IN RELAIS. REST OF
PURCHASE PRICE WILL BE PAID IN CASH.
    * PURCHASE AGREEMENT ALSO INCLUDES SELLERS' RIGHT TO AN ADDITIONAL PURCHASE PRICE OF A
MAXIMUM OF
SEK 25,000,000 IF FINANCIAL TARGETS AGREED BY PARTIES ARE REACHED BY END OF 2022

Source text for Eikon:  ID:nWkr5Q8SDP 
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