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BRIEF- Metso Signs Agreement To Acquire Mccloskey International

Published 2019-06-10, 01:34 a/m
BRIEF- Metso Signs Agreement To Acquire Mccloskey International
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June 10 (Reuters) - Metso Oyj METSO.HE :

* REG-METSO TO ACCELERATE GROWTH IN AGGREGATES WITH THE ACQUISITION OF MCCLOSKEY

* REG-METSO TO ACCELERATE GROWTH IN AGGREGATES WITH THE ACQUISITION OF MCCLOSKEY

* CLOSING IS EXPECTED TO TAKE PLACE DURING Q4 2019.

* HAS SIGNED AN AGREEMENT TO ACQUIRE MCCLOSKEY INTERNATIONAL, A CANADIAN MOBILE CRUSHING AND SCREENING EQUIPMENT MANUFACTURER

* TO ENSURE FINANCING FOR ACQUISITION, METSO HAS AGREED ON A BILATERAL LOAN FROM NORDEA BANK ABP

* LOAN HAS A MATURITY OF TWO YEARS AND INCLUDES AN OPTION TO EXTEND MATURITY BY ONE YEAR

* ENTERPRISE VALUE OF TRANSACTION IS CAD 420 MILLION (EUR 279 MILLION)

* TRANSACTION IS EXPECTED TO BE POSITIVE FOR METSO'S EARNINGS PER SHARE IN 2020.

* MCCLOSKEY WILL BE REPORTED IN METSO'S MINERALS SEGMENT.

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