ARREXAerosol Recirculation and Rainfall Experiment (South Africa)
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Cramo will pay EUR40m in cash, using its existing long-term credit facilities, and about EUR7m in new shares to the seller, holding firm Arrex Beteiligungs-GmbH.
Cramo has agreed with the vendor, German holding company Arrex Beteiligungs, to pay EUR40m of the total price for Theisen in cash, EUR7m in own new shares, as well as to assume its existing net interest-bearing debt and financial leasing liabilities, bringing the value of the transaction at a total of some EUR85m.
The acquisition, scheduled to close by the end of January 2011, is expected to contribute to Cramoa[euro](tm)s earnings as of next year.Country: , GermanySector: Machinery/Engineering, Business and Consumer ServicesTarget: Theisen Baumaschinen AGBuyer: Cramo PlcVendor: Arrex Beteiligungs-GmbHDeal size in USD: 61mType: Corporate acquisitionFinancing: Cash & StockStatus: Agreed