International group manufacturing and supplying Low & Bonar PLC announces the proposed acquisition of Colbond Investments B.V. (the “Acquisition”) for €103.3 million (equivalent to approximately £71.7 million) on a cash-free and debt-free basis, subject to certain post-completion adjustments.
Low & Bonar also announces that the Company proposes to raise £43.3 million (approximately £41.2 million net of expenses) by way of a 1 for 2 rights issue at a price of 85 pence per New Ordinary Share (the “Rights Issue”).
Low & Bonar PLC is an international group manufacturing and supplying a wide range of products in the Specialist Materials market. Specialist Materials is an international business, supplying yarns, fabrics and flooring products to a broad range of customers.
Colbond is a leading producer of high-quality synthetic nonwovens for flooring, automotive and construction applications, and three-dimensional polymeric mats and composites for civil engineering, building and industrial applications.
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