Edition:
India

Compass Group To Acquire Fazer Food Services


Tuesday, 11 Jun 2019 

June 11 (Reuters) - Compass Group PLC ::COMPASS GROUP PLC TO ACQUIRE FAZER FOOD SERVICES.PROPOSED DEAL FOR AN ENTERPRISE VALUE OF APPROXIMATELY EUR 475 MILLION.INITIAL CASH CONSIDERATION IS ESTIMATED TO BE EUR 420 MILLION WITH REMAINING DEFERRED CONSIDERATION PAYABLE WITHIN SEVEN YEARS..TRANSACTION IS EXPECTED TO ACHIEVE CO'S ACQUISITION CRITERIA OF RETURNS GREATER THAN COST OF CAPITAL BY END OF YEAR TWO.TRANSACTION WILL BE FINANCED USING CASH AND EXISTING CREDIT FACILITIES.