July 1, 2019 / 5:16 AM / 3 months ago

BRIEF-Cembra Money Bank buys Cashgate for 277 mln Sfr to expand loan portfolio

July 1 (Reuters) - Cembra Money Bank AG:

* SAYS CEMBRA MONEY BANK ACQUIRES CASHGATE AG

* SAYS SYNERGIES EXPECTED TO LEAD TO AN INCREMENTAL NET INCOME OF CHF 25–30 MILLION PER ANNUM FROM 2021 ONWARDS

* SAYS PURCHASE PRICE OF CHF 277 MILLION

* SAYS TARGET DIVIDEND FOR 2019 AT LEAST AT THE LEVEL OF PREVIOUS YEAR, EPS GUIDANCE 2019 (POST TRANSACTION) CHF 5.20–5.50

* SAYS INCREASES ITS FINANCING PORTFOLIO IN PERSONAL LOANS AND AUTO LEASES & LOANS BY AROUND CHF 1.4 BILLION TO A TOTAL OF AROUND CHF 6.2 BILLION Source text for Eikon: Further company coverage: (Reporting by John Miller)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below