Brief: SIT To Acquire 100% Of Janz-Contagem e Gestão de Fluídos

SIT SpA

15/10/2020 06:46

Oct 15 (Reuters) - SIT SpA  SITT.MI :
    * SIGNS BINDING DEAL TO ACQUIRE 100% OF JANZ-CONTAGEM E
GESTÃO DE
FLUÍDOS
    * PRICE PAID, EXCLUDING CASH AND DEBT, AMOUNTS TO APPROX.
EUR 28
MILLION
    * EARN-OUT OF UP TO EUR 0.8 MILLION IS ALSO STIPULATED BASED
ON
ACHIEVING SPECIFIC TARGETS IN 2021
    * ACQUISITION IS EXPECTED TO BE CONCLUDED IN DECEMBER 2020
    * TRANSACTION TO BE FUNDED BY NEW CREDIT LINE OBTAINED FROM
BANKS
INVOLVED IN CURRENT SYNDICATE

Source text for Eikon:  ID:nBIA4s8GFX 
Further company coverage:  SITT.MI 

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