Brief: Rieter buys SSM Textile Machinery division from Schweiter

Schweiter Technologies AG

03/07/2017 05:49

July 3 (Reuters) - RIETER HOLDING AG  RIEN.S : 
    * RIETER ACQUIRES THE SSM TEXTILE MACHINERY DIVISION FROM 
SCHWEITER  SWTQ.S  
    * PURCHASE PRICE AMOUNTS TO CHF 124.2 MILLION, CONSISTING OF 
ENTERPRISE VALUE OF CHF 100.0 MILLION AND LIQUID FUNDS. 
    * IS FINANCING THE PURCHASE PRICE FROM EXISTING FUNDS 
    * ACQUISITION WILL HAVE A POSITIVE IMPACT ON EARNINGS PER 
SHARE 
    * THE BUSINESS WILL BE ATTACHED TO THE BUSINESS GROUP 
COMPONENTS AS AN INDEPENDENT UNIT 
    * RIETER WILL CONTINUE TO OPERATE SSM IN ITS CURRENT FORM 
AND WITH THE EXISTING MANAGEMENT 
 
Source text - http://bit.ly/2tAm7DW 
Further company coverage:  RIEN.S  
 
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