Brief: Kingspan Group PLC To Acquire About 51% Steico SE Shares

Steico SE

18/07/2023 07:17

July 18 (Reuters) - Kingspan Group PLC  KSP.I :
    * KINGSPAN GROUP PLC - ENTERED INTO AN AGREEMENT WITH
SCHRAMEK
GMBH ("SCHRAMEK") TO ACQUIRE C.51% OF SHARES OF STEICO SE
    * KINGSPAN GROUP PLC -  AGREEMENT WITH AN OPTION TO ACQUIRE
A
FURTHER C.10% OF SHARES IN STEICO IN FUTURE
    * KINGSPAN GROUP PLC- PROPOSED DEAL FOR INITIAL
CONSIDERATION OF
ABOUT EUR251.4M SATISFIED ON COMPLETION
    * KINGSPAN GROUP PLC - ACQUISITION IS EXPECTED TO BE
EARNINGS
NEUTRAL INITIALLY, BASED ON KINGSPAN CONSENSUS EPS FOR 2023 AND
STEICO GUIDANCE FOR 2023

Further company coverage:  KSP.I 

 ((Reuters.Briefs@thomsonreuters.com;))