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Waterlogic Plc To Acquire Cool Clear Water Group

Friday, 24 May 2013 02:00am EDT 

Waterlogic Plc announced that it has entered into a conditional agreement to acquire the entire share capital of Cool Clear Water Group Ltd (CCW), supplier of POU drinking water purification and dispensing systems in Australia. The acquisition marks Waterlogic's entry into the Australian water cooler market. The consideration will be satisfied by the payment of AUD60.0 million (approximately USD58.5 million) in cash on completion, of which AUD6.1 million (approximately USD6 million) is held in escrow and will be released. The acquisition will be financed through existing cash resources and new debt facilities. The completion is expected to occur in June 2013. 

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