May 4, 2018 / 6:19 AM / 21 days ago

BRIEF-Allgon Has Entered Into Agreement To Acquire Tele Radio

May 4 (Reuters) - ALLGON AB (PUBL):

* ALLGON HAS ENTERED INTO AN AGREEMENT TO ACQUIRE TELE RADIO - AIMS TO BECOME A GLOBAL PLAYER IN INDUSTRIAL RADIO REMOTE CONTROL

* ACQUISITION WILL BE CARRIED OUT AT A PURCHASE PRICE OF SEK 350 MILLION ON A DEBT AND CASH FREE BASIS

* POSSIBLE ADDITIONAL PURCHASE PRICE OF UP TO A MAXIMUM OF SEK 50 MILLION

* ACQUISITION AGREEMENT IS CONDITIONAL UPON ALLGON RECEIVING SUFFICIENT FUNDING TO COMPLETE ACQUISITION

* COMPANY INTENDS TO FINANCE PART OF ACQUISITION THROUGH A SHARE RIGHTS ISSUE

* COMPANIES SEE POTENTIAL SYNERGY EFFECTS OF ABOUT SEK 15 MILLION ON AN ANNUAL BASIS THAT WILL BE REALIZED OVER A THREE-YEAR PERIOD

* WILL ISSUE SHARES OF ABOUT SEK 66 MILLION TO SOME OF TELE RADIO’S MANAGEMENT AND ONE OF MAIN SHAREHOLDER IN TELE RADIO

* RETAINED ABG SUNDAL COLLIER TO EVALUATE POSSIBILITIES TO ISSUE DEBT INSTRUMENTS OR TO RAISE OTHER LOAN FINANCING. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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