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Distribution and Warehousing Network Ltd announces proposed acquisition of 51 pct interest in Building Manufacturing Companies by Grohe


Wednesday, 2 Jul 2014 01:05am EDT 

Distribution and Warehousing Network Ltd and Grohe Luxembourg Four S.A:Enters into acquisition of shares agreement and shareholders agreement whereby Grohe will acquire 51 pct of the shares issued in Main Street 1254 Proprietary Limited (JV Co), a wholly owned subsidiary of Distribution and Warehousing.JV Co, being a newly established company that has been created for this purpose, is an intermediate holding company within the DAWN group.In preparation for the Transaction, the Watertech Companies will be transferred to JV Co.Acquisition consideration for transaction will be 880,000,000 Rand to be settled in cash.Proceeds shall be applied to repay debt and to acquire businesses as they are identified in areas of core competency. 

Company Quote

645.0
45.0 +7.50%
30 Apr 2015