Kingspan Group PLC Acquisition (5372Z)
December 15 2017 - 9:02AM
UK Regulatory
TIDMKGP
RNS Number : 5372Z
Kingspan Group PLC
15 December 2017
Kingspan Group plc
Acquisition
15 December 2017
Further to the Investment Update announced earlier today (RNS
5364Z), Kingspan Group plc ("Kingspan") now provides the following
additional information in relation to the acquisition of the
Synthesia group:
-- The Synthesia group comprises Synthesia Espanola S.A.,
Poliuretanos S.A., Huurre Iberica S.A. and their subsidiaries.
-- The acquisition agreement which was entered into today, 15
December 2017, with Monsax S.L., Isoblok S.L., Inversiones Landa
S.A. and others, is conditional on regulatory clearance and is
expected to complete during the first quarter of 2018.
-- The total consideration payable by Kingspan for the
businesses will be EUR250m inclusive of debt, which will be
satisfied in cash and by the assumption of debt, with EUR30m of the
consideration deferred until 2019. There is an additional EUR16m
consideration being off-set against assets retained by the
vendors.
-- Gross assets at 31 December 2016 were EUR180m.
-- The acquisition is expected to enhance earnings by circa 6 cent on an annualised basis.
-- The existing Synthesia management teams will be retained in the businesses.
For further information contact:
Kingspan
Lorcan Dowd, Group Company
Secretary +353 42 9698000
Murray Consultants
Douglas Keatinge +353 1 4980300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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