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SFC Energy AG Acquires Simark Controls Ltd


Thursday, 4 Jul 2013 06:01pm EDT 

SFC Energy AG announced that it signed a contract to acquire Simark Controls Ltd. (Simark), a Canadian distributing company with product integration and manufacturing experience for power products, instrumentation and automation equipment supplying the oil and gas industry. The net purchase price payable for all Simark shares is up to approximately EUR 18.52 million (CAD 25.00 million), consisting of a cash component of approximately EUR 12.04 million (CAD 16.25 million payable in cash at closing of the transaction) an SFC share component of approximately EUR 2.78 million (CAD 3.75 million) and another cash component of up to approximately EUR 3.70 million (CAD 5.0 million), which will be paid from 2014 to 2016 in three yearly instalments each up to approximately EUR 1.23 million (CAD 1.67 million) - depending on incidence or absence of certain events. 

Company Quote

4.84
0.09 +1.89%
11:37am EDT