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BRIEF-Essity Enters Agreement To Acquire Australian Hygiene Company Asaleo Care

Published 17/02/2021, 08:36 am
© Reuters.

Feb 16 (Reuters) - Essity AB (publ) ESSITYa.ST :

* ESSITY ENTERS AGREEMENT TO ACQUIRE AUSTRALIAN HYGIENE COMPANY ASALEO CARE

* NOW ENTERED AN AGREEMENT WITH HYGIENE COMPANY ASALEO CARE TO ACQUIRE REMAINING 63.8% OF SHARES IN COMPANY FOR AUD 1.40 CASH PER SHARE

* CONSIDERATION IMPLIES AN EQUITY VALUE ON A 100% BASIS OF APPROXIMATELY AUD 760M (APPROXIMATELY SEK 4.9BN) AND AN ENTERPRISE VALUE OF AUD 855M

* WILL FINANCE ACQUISITION OF SHARES THROUGH OWN FUNDS.

* WILL FINANCE ACQUISITION OF SHARES THROUGH OWN FUNDS

* SHAREHOLDERS IN ASALEO CARE WILL RECEIVE AUD 0.03 DIVIDEND DECLARED BY ASALEO FOLLOWING ANNOUNCEMENT OF THEIR FY 2020 RESULTS ON FEB. 17, 2021

* AT ABSOLUTE DISCRETION OF ASALEO BOARD IT IS INTENDED THAT FURTHER SPECIAL DIVIDEND OF AUD 0.02 IS PAID PRIOR TO COMPLETION OF TRANSACTION

* PROPOSAL IS NOT SUBJECT TO FINANCING CONDITIONS

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