Brief: Techstep announces acquisition of BKE Telecom

Techstep ASA

03/07/2017 13:41

July 3 (Reuters) - TECHSTEP ASA  TECHS.OL  
    * TECHSTEP ANNOUNCES ACQUISITION OF BKE TELECOM AB\, AND 
THEREBY CREATES A 
    * ENTERED INTO A BINDING AGREEMENT TO ACQUIRE BKE TELECOM 
AB ("BKE") FOR AN AGGREGATED PURCHASE PRICE OF SEK 81 MILLION 
    * PURCHASE PRICE PAYABLE AT CLOSING OF SEK 81 MILLION WILL 
BE SETTLED WITH SEK 38.5 MILLION IN CASH, SEK 15 MILLION IN 
SELLER CREDIT AND SEK 27.5 MILLION IN TECHSTEP SHARES 
    * SELLERS WILL HAVE RIGHT TO AN EARN-OUT PAYMENT UP TO SEK 
22.5 MILLION BASED ON CERTAIN CRITERIA RELATED TO INCREASED 
PROFITABILITY 
    * CLOSING IS SUBJECT TO CUSTOMARY CONDITIONS, INCLUDING 
CERTAIN THIRD-PARTY CONSENTS, AND IS EXPECTED END OF AUGUST 2017 
 
Source text for Eikon:  ID:nObitMvr2a  
Further company coverage:  TECHS.OL  
 
 (Gdynia Newsroom) 
 ((Gdynia.newsroom@thomsonreuters.com;))