October 3, 2017 / 10:51 PM / 15 days ago

BRIEF-Motorcycle Holdings announces agreement to acquire Cassons

Oct 4 (Reuters) - Motorcycle Holdings Ltd

* Acquisition of Cassons and capital raising

* Announces binding agreement to acquire 100 percent of shares in Cassons

* MTO will acquire business from Cassen Family for a total of $123.2 million

* Acquisition is expected to increase MTO’s annual revenues by approximately 30 percent to $310 million

* Acquisition is expected to increase MTO‘S annual EBITDA to about $30 million, before synergies

* ‍MTO will fund cash component of consideration through debt $35 million, entitlement offer to raise $67 million at $3.85 per share

* Consideration to be paid as $98.7 million in cash and $24.5 million in MTO shares​

* Fully underwritten 11 for 24 renounceable entitlement offer to raise $67 million at $3.85 per share Source text for Eikon: Further company coverage:

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