PARIS (Reuters) - French construction company Saint Gobain (SGOB.PA) announced on Friday a deal to buy E-Mix, an Asian mortars and dry mixes company, for around 104 million euros ($116 million) as part of plans to boost its presence in emerging markets.
Saint Gobain said the deal would be based on a price of 160 million Singapore dollars ($116 million), representing 6.6 times E-Mix’s 2015 adjusted EBITDA (earnings before interest, tax, depreciation and amortization).
Shares in Saint Gobain, which has been embroiled in a move to take control of Swiss chemicals maker Sika SIK.S, closed down 0.9 percent on Friday.
($1 = 0.8992 euros)
($1 = 1.3832 Singapore dollars)
Reporting by Sudip Kar-Gupta; Editing by John Irish