Vysarn Announces Acquisition of NewGround
Key points
- Vysarn to acquire 100% of NewGround for up to 33 million shares and $25 million in cash
- Acquisition expected to be 25% accretive to Vysarn's earnings per share
- NewGround to provide diversified revenue streams and defensive earnings
Full summary
Vysarn Limited has entered into a binding Share Sale Agreement to acquire NWG Enterprises Pty Ltd (NewGround), a market leader in industrial-scale irrigation systems. The acquisition will be for a total consideration of up to 33 million Vysarn shares and $25 million in cash. The acquisition is expected to be approximately 25% earnings per share accretive to Vysarn shareholders on a pro forma basis. NewGround will become a wholly owned subsidiary of Vysarn, establishing a new operating segment focused on water infrastructure and facilities management.
Guidance
Acquisition expected to be 25% accretive to Vysarn's earnings per share
Outlook
NewGround is expected to provide Vysarn with diversified sector exposure, revenue streams, and defensive earnings.
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