April 30, 2018 / 6:52 AM / 7 months ago

BRIEF-Investor AB to buy Piab from EQT in 7 bln SEK deal

April 30 (Reuters) - Investor AB:

* PIAB BECOMES A NEW SUBSIDIARY WITHIN PATRICIA INDUSTRIES

* PATRICIA INDUSTRIES, A PART OF INVESTOR AB, HAS AGREED TO ACQUIRE THE SWEDISH COMPANY PIAB GROUP AB FROM EQT

* SAYS ENTERPRISE VALUE AMOUNTS TO SEK 6.95 BN

* SAYS FOR 12-MONTH PERIOD ENDING MARCH 31, 2018, SALES AMOUNTED TO APPROXIMATELY SEK 1.2 BN. (PRO FORMA) AND EBITDA AND EBITA MARGINS WERE 29-30 PERCENT AND 28-29 PERCENT RESPECTIVELY

* SAYS PATRICIA INDUSTRIES EXPECTS TO INJECT APPROXIMATELY SEK 5.5 BN. IN EQUITY FOR MAJORITY OWNERSHIP OF COMPANY

* SAYS REMAINDER OF ACQUISITION WILL BE FINANCED BY EXTERNAL DEBT AND EQUITY PARTICIPATION BY MANAGEMENT AND KEY INDIVIDUALS WITHIN PIAB

* SAYS CLOSING IS EXPECTED DURING Q2, 2018 Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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