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BRIEF-SCA to acquire Germany's BSN medical for EUR 2.7 bln
December 19, 2016 / 6:29 AM / a year ago

BRIEF-SCA to acquire Germany's BSN medical for EUR 2.7 bln

Dec 19 (Reuters) - Svenska Cellulosa SCA

* SCA to acquire BSN medical, a leading medical solutions company, for eur 2,740m* on a debt- and cash-free basis, based on an estimated net debt as per December 31, 2016, of EUR 1,340m

* Says closing is expected to take place during q2 2017

* Says on a pro forma basis, giving effect to acquisition, sca’s net sales for full year 2015 would have increased from sek 115.3bn to sek 123.4bn

* Says pro forma adjusted ebitda** for full year 2015 would have increased from sek 19.0bn to sek 20.9bn

* Says BSN medical reported net sales for year 2015 amounted to eur 861m (sek 8,050m) and adjusted ebitda** of eur 201m (sek 1,879m)

* Says acquisition is expected to be accretive to sca’s earnings per share from year one

* Says BSN medical has high cash conversion and an asset light business model

* Says transaction costs amount to approximately eur 25m of which approximately eur 15m will be recognized as an item affecting comparability during Q4 2016

* Says in relation to acquisition, sca expects to realize annual synergies of at least eur 30m with full effect three years after closing

* Says acquisition will be fully debt funded and sca has committed credit facilities in place

* Says intangibles related to the acquisition is expected to amount to approximately EUR 2.7bn

* BSN medical has approximately 6,000 employees

* completion of the transaction is subject to customary regulatory approvals Source text for Eikon: Further company coverage: (Reporting by Stockholm Newsroom)

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