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Fiskars Oyj Abp Acquires Royal Copenhagen A/S and Royal Scandinavian Modern KK Japan from Royal Scandinavia A/S


Wednesday, 12 Dec 2012 03:00am EST 

Fiskars Oyj Abp announced that it signed on December 12, 2012 a definitive agreement to acquire 100% of the shares in Royal Copenhagen A/S and Royal Scandinavian Modern KK Japan from Royal Scandinavia A/S, whose controlling parent company is the Danish private equity group, Axcel. The total consideration payable (debt-free enterprise value) for the shares is DKK 490 million, equaling approximately EUR 66 million, less net debt and working capital adjustments as per closing of the transaction. The transaction will be financed using Fiskars’ existing credit programs and it is expected to be completed in the first quarter of 2013. Upon completion of the transaction, Royal Copenhagen will become a part of Fiskars’ Home business area. The acquisition is expected to have a positive effect on Fiskars Group’s EBIT from 2013 onwards. 

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