PTI has net assets valued at above US $40m and no debt. The agreement includes an option to acquire the remaining share capital three years from yesterday at a price reflecting an EV/EBITDA multiple of 6 – 7x based on the average EBITDA over the three years prior to the exercise.
The transaction was financed with a bank loan at LIBOR + 1.1%.
Source: Frutarom
© FoodBev Media Ltd 2024