December 12, 2016 / 3:05 PM / a year ago

BRIEF-Cherry acquires remaining shares in ComeOn

Dec 12 (Reuters) - Cherry AB (publ) :

* Says has exercised its option to acquire the remaining 51 per cent of the shares in ComeOn Malta Ltd

* Cherry Group expects that with the acquisition of ComeOn, it will generate total revenues for the full year 2017 of between 2.60 billion Swedish crowns ($283.96 million) and 2.70 billion crowns with an EBITDA of 550 million to 600 million crowns

* Cherry expects that the acquisition of the remaining 51 per cent of the shares in ComeOn Malta Ltd will be concluded in Q1 2017

* The total purchase price is based on a multiple of ten times ComeOn’s operating profit (EBIT) for the full year 2016

* The initial 80 million euros ($84.89 million) portion of the purchase price, which was paid in July 2016, will be deducted from the final purchase price which can be up to a maximum of 280 million euros on a debt free basis

Source text: bit.ly/2gsv3kb

Further company coverage:

$1 = 9.1563 Swedish crowns $1 = 0.9424 euros Gdynia Newsroom

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