Element Solutions Inc

+0.30 (+1.39%)
Debt Financing / Related, Other Pre-Announcement

Element Solutions Inc Announces Planned Acquisition Of Coventya

Published: 06/11/2021 11:22 GMT
Element Solutions Inc (ESI) - Element Solutions Inc Announces Planned Acquisition of Coventya.
Element Solutions - Under Terms of Offer, Will Pay About EUR 420 Million in Cash, Including Assumption Or Repayment of Debt.
Element Solutions - on Closing of Deal, Coventya to Join Macdermid Enthone Industrial Solutions, to Be Reported Within Co's Industrial & Specialty Segment.
Element Solutions - Coventya Expected to Generate Annual Sales of About EUR 160 Million, Adjusted EBITDA of Greater Than EUR 30 Million for Fiscal Year 2021 Ending in Sept.
Element Solutions - on a Pro-forma Run-rate Basis, Transaction Expected to Add About $0.07 to Esi's Adjusted EPS Before Synergies.
Element Solutions Inc - Purchase Price Expected to Be Funded With Cash on Hand and Incremental Debt Financing.