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Csr Ltd to acquire AFS Products Group Ltd


Tuesday, 1 Apr 2014 07:00pm EDT 

Csr Ltd:Announced that it has reached an agreement to acquire the businesses of AFS Products Group Ltd (AFS).The acquisition of AFS provides a strong platform for CSR to enter the structural walling systems market.CSR will acquire AFS for an initial consideration of A$40 million following completion of the transaction.The acquisition will be funded via existing cash and debt facilities and is expected to be EPS accretive in the first year.The initial consideration represents a multiple of around 6 times normalised EBITDA for the twelve months forecast to June 30, 2014.Additional payments over the next three years are subject to achieving growth targets. 

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