Edition:
United Kingdom

Rejlers To Acquire Neste Engineering Solutions Units


Wednesday, 19 Jun 2019 

June 19 (Reuters) - Rejlers Ab (Publ) ::REJLERS ENTERS INTO A STRATEGIC PARTNERSHIP WITH NESTE BY MEANS OF AN ACQUISITION AND A NEW FIVE YEAR FRAME AGREEMENT.REJLERS HAS TODAY ENTERED INTO AN AGREEMENT TO ACQUIRE STRATEGICALLY IMPORTANT BUSINESS UNITS FROM NESTE ENGINEERING SOLUTIONS..ACQUIRED ENTITIES EMPLOY 333 STAFF IN TOTAL AND PURCHASE PRICE AMOUNTS TO EUR 21 M.ACQUISITION IS WELL ALIGNED WITH NEW STRATEGY FOR GROWTH IN EXISTING MARKETS.AFTER TRANSACTION, REJLERS WILL HAVE AROUND 2,300 QUALIFIED EMPLOYEES IN TOTAL.IN CONNECTION WITH ACQUISITION, PARTIES HAVE ENTERED INTO A FIVE YEAR STRATEGIC PARTNERSHIP AGREEMENT.TRANSACTION IS EXPECTED TO BE COMPLETED NO LATER THAN 1 OCTOBER 2019.ACQUISITION WILL BE FINANCED THROUGH A NEW BANK FACILITY OF SEK 220 M, UNDER DURATION OF WHICH REJLERS WILL CONSIDER PARTLY REPAYING IT BY MEANS OF A NEW SHARE ISSUE, WHICH COULD BE CARRIED OUT EITHER AS A DIRECTED ISSUE OR AS A RIGHTS ISSUE.ACQUISITION WILL BE FINANCED THROUGH A NEW BANK FACILITY OF SEK 220 M.