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Austin Engineering Ltd Announces Acquisition Of Business Of Servigrut


Sunday, 6 Oct 2013 05:45pm EDT 

Austin Engineering Ltd announced the further expansion of operations in northern Chile through the acquisition of the business of Servigrut. Highlights of the acquisition include: Total consideration of USD 21 million payable in cash; 50% paid upfront from existing bank facilities with the balance scheduled for payment in January 2014; 50% paid upfront from existing bank facilities with the balance scheduled for payment in January 2014; Total assets acquired of approximately USD 22.5 million, consisting of USD 3.1 million of property and USD 19.4 million of plant and equipment; Transfer of approximately USD 7.8 million of equipment-related finance lease commitments; Acquisition of the business effective as of October 1, 2013. 

Company Quote

1.165
-0.0050 -0.43%
30 Sep 2014