Brief: SergeFerrari Group Announces Acquisition Of Verseidag-Indutex

Sergeferrari SA

29/07/2020 17:41

July 29 (Reuters) - Sergeferrari Group SA  SEFER.PA :
    * SERGEFERRARI GROUP ANNOUNCES THE ACQUISITION OF
VERSEIDAG-INDUTEX, THUS STRENGTHENING ITS GLOBAL LEADER POSITION
IN TENSILE ARCHITECTURE AND MODULAR STRUCTURES AND BECOMING A
KEY PLAYER IN NON-COMBUSTIBLE SOLUTIONS
    * TRANSFORMING SERGEFERRARI GROUP SIZE WITH PRO FORMA
CONSOLIDATED
2019 REVENUES OF EUR 273 MILLION
    * ACQUIRED 100% OF SHARES OF VERSEIDAG-INDUTEX AND OF
COMPANIES
VERSEIDAG SEEMEE US AND CUBUTEX GMBH AND 60% OF DBDS DEUTSCHE
BIOGAS DACHSYSTEME GMBH, IN RETURN FOR CASH PAYMENT IN TWO
INSTALMENTS (ONE AT CLOSING, THE OTHER IN 2021), PAYMENT IN
SERGEFERRARI GROUP SHARES ALSO IN TWO INSTALMENTS (ONE IN 2021,
THE OTHER IN 2022) AND EARN-OUT TO BE PAID IN 2023, INDEXED TO
EBITDA GROWTH
    * IN ORDER TO FINANCE ITS EXTERNAL GROWTH OPERATIONS,
2020-2022
INVESTMENT AND DEVELOPMENT PROGRAM, AND TO REFINANCE ITS
EXISTING DEBT, CO HAS ENTERED INTO CREDIT AGREEMENTS WITH ITS
BANKS FOR €75 MLN, AS WELL AS FINANCING WITH EURO PP LENDERS
(BOND FORMAT) FOR €20 MLN, WHICH CAN BE INCREASED TO €30 MLN
    * THESE FINANCING LINES WILL BE IMPLEMENTED PROGRESSIVELY,
DEPENDING ON THE NEEDS
    * IT IS NOT POSSIBLE TO COMMENT AT THIS STAGE THE NEW
GROUP'S
REVENUES ESTIMATES FOR 2020, NOR ITS PROFITABILITY

Source text for Eikon:  ID:nBw2D77l0a 
Further company coverage:  SEFER.PA 

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