July 17, 2017 / 12:45 PM / 6 days ago

BRIEF-Multi-Color to buy Constantia Labels division

2 Min Read

July 17 (Reuters) - Multi-color Corp:

* Multi-Color Corporation announces agreement to acquire Constantia Labels division to create a global leader in the labels space

* Multi-Color Corp - deal for ‍approximately $1.3 billion (EUR 1.15 billion), payable in cash and stock.​

* Multi-Color Corp - ‍expects transaction to be meaningfully accretive to core EPS in fiscal year ending March 2019​

* Multi-Color Corp -debt financing for transaction is fully committed through new facilities underwritten by Bank Of America Merrill Lynch and Citigroup

* Says ‍management expects transaction to be meaningfully accretive to core EPS in fiscal year ending March 2019​

* Multi-Color Corp - ‍reaffirms its core EPS guidance for fiscal year 2018 of $4.00​

* Multi-Color Corp - ‍cost synergies are anticipated to reach $15 million (or 2% of acquired revenues) by fiscal year March 2020​ from deal

* Multi-Color Corp says two representatives of constantia flexibles will join Multi-Color's board of directors

* Multi-Color Corp - ‍for fiscal quarter ended June 30, 2017, management forecasts approximately $0.80 core EPS​

* Says ‍current Multi-Color CEO, Vadis Rodato, is expected to retire in early 2018 after a transition period

* Says ‍multi-Color's stock will be issued to Constantia Flexibles at a price of $75 per share​

* Multi-Color Corp - ‍as part of transaction, Constantia Flexibles will become a 16.6% shareholder in Multi-Color​

* FY 2018 earnings per share view $3.98 -- Thomson Reuters I/B/E/S

* Q1 earnings per share view $0.97 -- Thomson Reuters I/B/E/S

* Multi-Color Corp - ‍fiscal quarter ended June 30, 2017 core EPS forecast as a result of one off production inefficiencies in one large plant​ Source text for Eikon: Further company coverage:

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