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Bids, Mergers and Takeovers

Carclo unit acquires FLTC (Europe)

30 March 2017 09:48

Carclo's UK subsidiary, Carclo Overseas Holdings, has acquired FLTC (Europe) a.s. for an initial consideration of CZK27.0 million in cash, plus further deferred consideration of up to CZK16.2m, subject to the satisfaction of certain performance criteria.

Carclo said the completion consideration was subject to a cash and working capital adjustment of up to CZK45.4m.

Carclo said an initial cash and working capital adjustment payment of CZK41.3m was made upon completion, of which CZ 29.5m represented cash held by FLTC at the time of completion.

It said a final cash and working capital adjustment payment would be made subsequent to completion.

At 9:48am: (LON:CAR) Carclo PLC share price was +5p at 133p

Story provided by StockMarketWire.com

Related Company: CAR

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