Nov 25 (Reuters) - Surfstitch Group Ltd SRF.AX :
* Surfstitch Group announces the acquisition of Surf Hardware International and institutional placement
* Says total consideration for the acquisition will be paid 100% in cash
* Deal for an enterprise value of A$23.7 million
* Says reaffirms FY16E guidance of A$15-18 million EBITDA for the business
* "Compelling acquisition multiple of 7.5x fy16e EBITDA with 10%+ earnings accretion in FY16E on a full year pro forma basis"
* Says announced a fully-underwritten institutional placement to raise approximately A$50 million
* Says proceeds from the placement will be used to fund the repayment of certain debts of SHI
* Provides FY16E guidance of A$18-22 million EBITDA, including the contribution of SHI on a full year pro forma basis
* Source text for Eikon ID:nASX8W4rRk