Learn To Invest
Stocks Special Reports LICs Credit Funds ETFs Tools SMSFs
Video Archive Article Archive
News Stocks Special Reports Funds ETFs Features SMSFs Learn
About

Company News Summary

WorleyParsons Announces Acquisition of AFW UK and Associated Capital Raising

09 Oct 2017  |  09:33:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Acquisition of AFW UK and Associated Capital Raising

WorleyParsons announced that it has entered into a binding agreement to acquire AFW UK for an enterprise value of A$303m, pre-adjustments for surplus working capital and cash in the AFW UK business (Acquisition). Pro-forma net debt / EBITDA (June 2017) reduces from 2.4x to 2.2x3. The Acquisition enterprise value is A$303m 4 pre-adjustments for surplus working capital and cash in the AFW UK business. Including the value of these adjustments, the total acquisition consideration is A$380m. The Entitlement Offer will be used to fund 100% of the AFW UK enterprise value pre-adjustments, with the value of adjustments for working capital and cash in AFW UK to be primarily debt funded. It expects the debt drawn to fund the adjustments. The record date is 11 October 2017.

Please click here for full details

See more ASX300 News Announcements