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Provider: Edison Investment Research
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Acal PLC acquires Trafo Holding AS

Thursday, 5 Jun 2014 02:01am EDT 

Acal PLC:Enters into conditional agreement to acquire Trafo Holding AS, trading as Noratel, based on an enterprise value of 735 mln Norwegian krone (73.5 mln pounds) debt free basis.Initial cash consideration for the acquisition of 291.9 mln Norwegian krone (29.2 mln pounds) will be met in part from the proceeds of the rights issue (55.0 mln pounds).Says it issues of such number of consideration shares as is equivalent to 0.8 mln pounds as determined using the average mid-market closing price for the three trading days prior to completion.Proceeds of the rights issue will also be used to repay part of Noratel's existing debt (43.5 mln pounds).Acquisition is expected to be immediately significantly accretive to underlying earnings per share, taking into account the issue of the rights issue shares but excluding any cost or benefits from potential operational efficiencies arising from the acquisition. 

Company Quote

-3.0 -1.30%
19 Dec 2014