Brief: Troax Acquires Natom Logistic

Troax AB (publ)

03/11/2020 07:05

Nov 3 (Reuters) - Troax Group AB (publ)  TROAX.ST :
    * TROAX AB ACQUIRES NATOM LOGISTIC
    * TROAX AB, WHICH IS A PART OF TROAX GROUP, HAS ENTERED INTO
AN
AGREEMENT TO ACQUIRE ALL OUTSTANDING SHARES IN POLISH COMPANY
NATOM LOGISTIC SP. Z O.O
    * NATOM HAS 180 EMPLOYEES AND SALES OF APPROXIMATELY EUR 20
MILLION WITH A SOLID OPERATING MARGIN
    * ACQUISITION WILL BE FINANCED WITHIN TROAX'S EXISTING CASH
ON A
CASH-FREE/DEBT-FREE BASIS
    * A PERFORMANCE-BASED ADDITIONAL PAYMENT MAY OCCUR IN 2020 &
2021
CONDITIONAL ON A CONTINUED HIGH OPERATING PROFIT
    * TRANSACTION IS EXPECTED TO CLOSE TODAY
    * TRANSACTION COSTS OCCURRING DURING Q4 IS NOT EXPECTED TO
BE
MATERIAL
    * NATOM EXPECTED TO CONTRIBUTE POSITIVE TO CO'S EPS STARTING
FROM
Q4 OF 2020 AND NET DEBT / EBITDA THROUGH ACQUISITION WILL
INCREASE TO 1.5-1.6 ON AN ANNUALIZED BASIS

Source text for Eikon:  ID:nWkr5BMZTq 
Further company coverage:  TROAX.ST 

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