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M&A - Europe

BRIEF-Fila Fabbrica Italiana Lapis ED Affini SpA agrees to acquire 100 pct of Pacon Group

May 7 (Reuters) - FILA Fabbrica Italiana Lapis ed Affini SpA :

* FILA FABBRICA ITALIANA LAPIS ED AFFINI SPA AGREES TO ACQUIRE 100% OF PACON GROUP

* FILA FABBRICA ITALIANA LAPIS ED AFFINI SPA SAYS DEAL VALUE IS US$ 325 MILLION

* F.I.L.A. ESTIMATES SIGNIFICANT COST SYNERGIES

* ENTERS AGREEMENT FOR ACQUISITION BY SUBSIDIARY DIXON TICONDEROGA OF 100% OF SHARES OF PACON FOR ENTERPRISE VALUE OF $325 MILLION, $15 MILLION IN TAX BENEFITS

* PROPOSED LAUNCH OF RIGHTS OFFERING OF UPTO EUR 100 MLN, WITH PRE-EMPTION RIGHTS, CONDITIONAL UPON COMPLETION OF ACQUISITION

* ENTERED INTO AGREEMENT PROVIDING FOR ACQUISITION BY ITS UNIT DIXON TICONDEROGA COMPANY OF 100% OF SHARES OF PACON HOLDING COMPANY

* ALL OF PACON’S SHAREHOLDERS SUPPORT TRANSACTION AND HAVE GIVEN THEIR VOTING CONSENT TO ACQUISITION

* TRANSACTION IS FINANCED BY A MEDIUM/LONG-TERM LOAN

* BOARD INSTRUCTED GROUP’S CFO TO EVALUATE POSSIBILITY FOR CO TO ENTER INTO FOREIGN EXCHANGE HEDGING AGREEMENTS Source text for Eikon: Further company coverage:

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