AMSTERDAM, April 11 (Reuters) - Dutch engineering firm Arcadis on Wednesday said it would acquire Davis Langdon & Seah, an Asia-based cost and project management consultancy with a leading position in most of the region’s markets.
Arcadis has been on the prowl for an acquisition in Asia which would boost its footprint, particularly in China.
Arcadis said it has financed the deal by issuing 2.2 million shares to the DLS partners, in addition to an undisclosed cash amount through existing credit facilities.
Arcadis shares traded at 14.71 euros early on Wednesday, giving the share component a value of about 32.4 million euros ($42.4 million).
The Dutch company said the transaction is expected to be immediately accretive to earnings per share. Other financial details were not disclosed. ($1 = 0.7644 euros) (Reporting by Sara Webb)