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Neways Electronics International acquires BuS Group


Friday, 11 Jul 2014 11:56am EDT 

Neways Electronics International NV:EGM approves plans announced on April 10 to acquire BuS Holding GmbH (BuS Group).BuS Group provides electronic solutions for EMS market and is active right across Germany, comprising two operating companies in Germany (Riesa and Erfurt) and one operating company in Czech Republic (Decin) with overall workforce of 900 people, including 50 developers.About 80 pct of purchase price expected to be paid in cash and about 20 pct in shares with lock-up period of 18 months.Purchase price expected to be lower than net equity value of BuS Group.Acquisition to be financed with mix of equity and debt.Details of financing of acquisition and definitive purchase price yet to be determined.Transaction expected to be completed in Q3 2014. 

Company Quote

7.35
0.05 +0.68%
19 Dec 2014