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BRIEF-De Longhi buys 40 pct of Eversys, with option to buy remaining 60 pct
April 12, 2017 / 4:10 PM / 5 months ago

BRIEF-De Longhi buys 40 pct of Eversys, with option to buy remaining 60 pct

April 12 (Reuters) - De Longhi SpA:

* Signs contract to acquire 40 pct of Swiss group Eversys, with option to acquire the remaining 60 pct through a “put & call” mechanism

* “Put & call” mechanism to acquire Eversys to be exercised by June 30, 2021 (not earlier than 2 years following the closing date)

* Initial maximum cash out will amount to about 21 million Swiss francs ($20.90 million) and will include a consideration for the 40 pct equity stake ranging from 15.3 million francs to 17.4 million francs and, for the residual part, a shareholder loan to finance the investments envisaged by the business plan

* The maximum payable price for the 100 pct of Eversys is estimated in approximately 100 million francs Source text: www.1info.it Further company coverage: ($1 = 1.0050 Swiss francs) (Gdynia Newsroom)

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