October 2, 2017 / 1:48 PM / in 18 days

BRIEF-Ferro acquires majority interest in Gardenia Quimica​

Oct 2 (Reuters) - Ferro Corp

* Ferro Corp - ‍acquired a majority interest in Gardenia Quimica​

* Ferro Corp - acquisition of Endeka for approximately EUR 64 million​

* Ferro Corp - transaction will be funded through excess cash and borrowings under company’s existing revolving credit facility

* Ferro Corp - Endeka full-year forecasted 2018 revenues are approximately EUR 75 million

* Ferro Corp - ‍expects transaction to be accretive to earnings and 2018 post-synergy adjusted EBITDA, which is forecasted to be about EUR 11-12 million ​

* Ferro Corp - Gardenia Quimica transaction resulted in Ferro increasing its ownership in joint venture company from a minority to a majority position​ Source text for Eikon: Further company coverage:

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