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BRIEF-Italtile updates on acquisition of Ceramic Industries, regulatory approval
August 22, 2017 / 5:22 AM / a month ago

BRIEF-Italtile updates on acquisition of Ceramic Industries, regulatory approval

Aug 22 (Reuters) - Italtile Ltd

* UPDATE ON ACQUISITION OF CERAMIC INDUSTRIES PROPRIETARY LIMITED

* PURCHASE CONSIDERATION EQUATES TO R3.61 BILLION WHICH WILL BE SETTLED IN CASH (50%) AND BALANCE BY ISSUE OF ITALTILE SHARES AT R11.57 PER SHARE

* COMPETITION TRIBUNAL ON AUG 21 ANNOUNCED MERGER HAS BEEN CONDITIONALLY APPROVED. SHAREHOLDERS ARE REFERRED TO STATEMENT RELEASED BY TRIBUNAL Source text for Eikon: Further company coverage:

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