BRIEF-Broedrene Hartmann acquires Sanovo Greenpack

lunes 1 de diciembre de 2014 05:43 GYT

Dec 1 (Reuters) - Broedrene Hartmann A/S :

* Brødrene Hartmann A/S strengthens its global position through the acquisition of Sanovo Greenpack

* Says in 2014, Sanovo Greenpack is expected to generate revenue of around 400 million Danish crowns and operating profit at level of 45 million crowns based on current exchange rates

* Entered into an agreement with Lactosan Sanovo Holding A/S to purchase its South American moulded-fibre activities

* Says transaction, which is expected to close in early 2015, is binding and will strengthen Hartmann's earnings per share (EPS) already next year

* Says purchase price for shares in Sanovo Greenpack is 300 million crowns, corresponding to an EBITDA multiple of 5.5, and is financed through bank loans

* Says Hartmann's current dividend policy is maintained

* Maintains its expectations of revenue of 1.6-1.7 billion crowns and a profit margin of 9.0-10.5 pct for 2014 Source text for Eikon: Further company coverage: (Gdynia Newsroom)