BRIEF-Laird to team up with Skylake Consortium and buy majority stake in Model Solution

April 15 Tue Apr 15, 2014 4:24am EDT

April 15 (Reuters) - Laird :

* Acquisition of 51 pct of Model Solution, a South Korean company specialising in prototype design

* Acquiring Model Solution from Kamur Private Equity for KRW 70 billion (c.40.4 million stg), in conjunction with South Korean private equity investors, Skylake Consortium

* Acquisition will represent a cash cost of 20.6 million pounds to Laird payable from Laird's existing facilities

* Expected to be earnings enhancing in first full year of ownership. Transaction is expected to close within two weeks. Source text for Eikon: Further company coverage: