June 14, 2017 / 4:32 PM / 2 months ago

BRIEF-Greenyard announces acquisition of Mykogen

June 14 (Reuters) - GREENYARD NV:

* ANNOUNCES ACQUISITION OF MYKOGEN

* THE PURCHASE PRICE IS APPROXIMATELY € 93 MILLION.

* TRANSACTION CLOSING IS EXPECTED TO OCCUR DURING THE SECOND HALF OF 2017

* IS FINANCING THE TRANSACTION FROM EXISTING CREDIT FACILITIES

* SELECTIVE NON-STRATEGIC AND NON-CORE ASSETS WITHIN THE FRESH SEGMENT WILL BE DIVESTED

* THE DIVESTMENTS ARE EXPECTED TO BE COMPLETED DURING THE SECOND HALF OF 2017

* DIVESTMENTS ARE ESTIMATED TO PROVIDE CASH PROCEEDS OF AROUND € 25M WITH LIMITED IMPACT ON EBITDA (ACTIVITIES REPRESENT <2% OF GROUP EBITDA)

* AS A RESULT OF THE ACQUISITION AND DIVESTMENTS, EBITDA IS ANTICIPATED TO INCREASE BY 8%.

* AFTER THE ACQUISITION OF MYKOGEN AND THE DIVESTMENTS OF THE NON-CORE ASSETS, NET FINANCIAL DEBT IS EXPECTED TO BE APPROXIMATELY € 390 MILLION VERSUS. € 324.2 MILLION REPORTED FY 16/17 Further company coverage: (Gdynia Newsroom)

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