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Provider: Reuters Investment Profile
Provider: Wright Reports

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Concentric AB Agrees to Acquire Licos Trucktec GmbH

Friday, 14 Jun 2013 02:00am EDT 

Concentric AB announced that it has on June 14, 2013 entered into an agreement to acquire all the shares in Licos Trucktec GmbH (Licos), a producer of electromagnetic clutches for water pumps and fan applications within the truck industry, complimentary to Concentric’s current product range and end markets. The total purchase consideration for Licos, on a debt free basis, is approximately EUR 12.5 million, largely financed by cash but also including Concentric own shares to the value of EUR 0.5 million based on the current share price. The acquisition of Licos is conditional upon the positive outcome of certain contractual matters, which Concentric expects to be resolved within the next two weeks. Concentric intends to make a further press release at this point, when the transaction has been formally completed. 

Company Quote

-0.75 -0.77%
6:08am EDT