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BRIEF-Schouw & Co. acquires majority of shares in Borg Automotive
March 20, 2017 / 12:23 PM / 9 months ago

BRIEF-Schouw & Co. acquires majority of shares in Borg Automotive

March 20 (Reuters) - Schouw & Co A/S:

* Acquires the majority of shares in Borg Automotive

* Has entered into an agreement on acquisition of Danish industrial company Borg Automotive in Silkeborg, Denmark

* It is intention that Schouw & Co. shall take over 85% of business

* Business has been assessed at about 1.15 billion Danish crowns ($166.26 million) on a debt-free basis (enterprise value for 100% of business)

* Acquisition is expected to become effective from beginning of April 2017

* For 9 month period in 2017 Borg Automotive is expected to be recognised with a revenue of about 800 million crowns and an EBIT in range of 110-130 million crowns Source text for Eikon: Further company coverage: ($1 = 6.9169 Danish crowns) (Gdynia Newsroom)

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