Unilever To Buy 82% Of Concern Kalina For EUR390 Million
14 Oktober 2011 - 9:40AM
Dow Jones News
Unilever PLC (ULVR.LN), a consumer goods companies said Friday
that it has agreed to acquire 82% of Concern Kalina, a Russian
beauty company, for EUR390 million, adding that on completion
Unilever intends to launch a Mandatory Tender Offer to acquire the
remaining shares that are not part of the initial agreement, at
such time and on terms mandated by Russian law.
MAIN FACTS:
-The transaction, which is pending required regulatory
approvals, values the equity of the total business at RUB 21.5
billion or EUR 500 million.
-Concern Kalina expects 2011 turnover of around EUR 303
million
-The transaction implies an enterprise value for 100% of Concern
Kalina of RUB 25.9 billion or EUR604 million.
-This represents a sales multiple of 2.0 and a pre-synergy
proforma EBITDA multiple of 11.7. The price per share is RUB 4.098,
calculated on the basis of 5.2 million outstanding shares in
circulation.
-The price per share is subject to a number of completion
adjustments and the final share price on closing could be
different.
-Subject to obtaining the required regulatory approvals, the
acquisition is expected to complete by the end of 2011.
-Shares at 0710 GMT up 25 pence, or 1.3%, at 208 pence, valuing
the company at GBP26.4 billion.
-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275;
razak.baba@dowjones.com
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