Brief: Somec Signs Preliminary Deal Of EUR 7.5 Mln For Acquisition Of 65% Of Budri

Somec SpA

23/06/2022 06:57

June 23 (Reuters) - Somec SpA  SOME.MI :
    * SIGNS PRELIMINARY AGREEMENT FOR ACQUISITION OF BUDRI
    * FOR 65% ACQUISITION OF BUDRI, AGREEMENT PROVIDES FOR
CONSIDERATION AT CLOSING OF EUR 7.5 MILLION, BASED ON AN 
ENTERPRISE VALUE DETERMINED TO BE EUR 16.6 MILLION
    * DEAL PROVIDES FOR ADDITION TO PROVISIONAL PRICE, AS AN
EARN-OUT
WHOSE CUMULATIVE AMOUNT MAY NOT EXCEED EUR 3.5 MILLION IN PERIOD
2022-2023 AND EUR 3.25 MILLION IN PERIOD 2024-2025

Further company coverage:  SOME.MI 

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