Edition:
United Kingdom

SSAB's Tibnor to buy Danish Sanistal's steel distribution business


Friday, 9 Nov 2018 

Nov 9 (Reuters) - SSAB AB ::TIBNOR TO ACQUIRE SANISTÅL'S STEEL DISTRIBUTION BUSINESS.SAYS STEEL DISTRIBUTION BUSINESS NOW BEING ACQUIRED HAD SALES OF AROUND SEK 1.8 BILLION IN 2017.SAYS BASED ON ACQUISITION, SSAB AND TIBNOR EXPECT ANNUAL SYNERGIES OF APPROXIMATELY SEK 50 MILLION TO BE REALIZED WITHIN THREE YEARS.SAYS TIBNOR IS ACQUIRING SANISTÅL'S STEEL DISTRIBUTION BUSINESS AS AN ASSET DEAL AT NET VALUE OF APPROXIMATELY SEK 630 MILLION.THE ACQUISITION IS EXPECTED TO BE EARNINGS AND CASH FLOW ACCRETIVE FROM CLOSING. 

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