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BRIEF-Owens Corning to buy European mineral wool maker Paroc Group
October 30, 2017 / 1:11 AM / 21 days ago

BRIEF-Owens Corning to buy European mineral wool maker Paroc Group

Oct 29 (Reuters) - Owens Corning -

* Owens Corning to acquire Paroc Group, a leading European mineral wool manufacturer

* ‍signed agreement with CVC Capital partners to acquire Paroc Group for enterprise value of approximately EUR 900 million​

* ‍transaction is expected to be immediately accretive to 2018 earnings per share, excluding transaction and integration costs​

* ‍transaction is expected to yield a run rate of operational synergies of eur 15 million by end of 2019​

* ‍company plans to finance acquisition through a combination of long-term debt and pre-payable bank financings​ Source text for Eikon: Further company coverage:

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