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Klöckner & Co SE
ISIN: DE000KC01000
WKN: KC0100
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Klöckner & Co SE · ISIN: DE000KC01000 · EQS - adhoc news (84 News)
Country: Germany · Primary market: Germany · EQS NID: 1516831
19 December 2022 06:29PM

Klöckner & Co SE: Klöckner & Co to acquire National Material of Mexico


EQS-Ad-hoc: Klöckner & Co SE / Key word(s): Mergers & Acquisitions
Klöckner & Co SE: Klöckner & Co to acquire National Material of Mexico

19-Dec-2022 / 18:29 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Klöckner & Co has agreed to acquire National Material of Mexico (“NMM”) via its U.S. subsidiary Kloeckner Metals Corporation (“KMC”). NMM is a leading independent service center and materials supplier serving automotive and industrial end markets in North America.

The parties have agreed on a consideration of USD 340 million on a cash and debt free basis. With an Enterprise Value multiple of around 6.7 based on the expected 2022 EBITDA, this represents a highly attractive and directly value-accretive expansion of Klöckner & Co’s activities.

Closing of the transaction requires antitrust approvals and is expected before summer 2023.

Information and Explanation of the Issuer to this announcement:

For the definition of EBITDA reference is made to our homepage (accessible via https://www.kloeckner.com/en/glossary.html) and/or the annual report 2021, p. 36 (accessible via https://www.kloeckner.com/en/investors/publications.html).

19-Dec-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Klöckner & Co SE
Am Silberpalais 1
47057 Duisburg
Germany
Phone: +49 (0)203 / 307-0
Fax: +49 (0)203 / 307-5000
E-mail: info@kloeckner.com
Internet: www.kloeckner.com
ISIN: DE000KC01000
WKN: KC0100
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1516831

 
End of Announcement EQS News Service

1516831  19-Dec-2022 CET/CEST

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Contact:
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+49 (0) 89 444 430-000

 

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