Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Imtech To Buy AE Arma-Elektropanç To Create Extra Growth Potential

Imtech N.V. (IMTEF.PK) announced the acquisition of the Turkish technical services provider AE Arma-Elektropanç.

Imtech said it will initially acquire 80 percent of the shares with the remaining 20 percent being acquired in the future. The initial acquisition price amounts to almost five times the EBITA and will be paid in cash. The company added that the acquisition contributes directly to the earnings per share and will enable it to acquire a strong position in Turkey as well as a stepping stone in emerging markets such as the Middle East, Russia and various former Soviet Republics.

René van der Bruggen, chief executive officer of Imtech, stated, "This acquisition is a huge leap forwards for Imtech. In our 2015 growth strategy (objective: revenue level of 8 billion euro), we have committed ourselves to strengthening our position in countries new to Imtech, such as Turkey. The AE Arma-Elektropanç acquisition will help us achieve this goal. Under Imtech's robust financial wings, AE Arma-Elektropanç will be able to grow further. As an extension of the AE Arma-Elektropanç activities, in time further acquisitions in these countries will also be possible. This new acquisition enables us to create extra growth potential."

Register
To receive FREE breaking news email alerts for Imtech NV and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Following the rally seen in the previous session, stocks may give back some ground in early trading on Friday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 38 points. The terrorist group known as the Islamic State in Iraq and the Levant (ISIL) is earning about $1 million each day by smuggling oil out of the Middle East, according to the US Treasury Department. Speaking at the Carnegie Endowment for International Peace on Thursday, Under Secretary for Terrorism and Financial Intelligence David Cohen said "ISIL has raised a significant amount of its money - many The U.K. economy grew at a slower pace in the third quarter in the face of rising uncertainty stemming from global economic conditions, preliminary estimates from the Office for National Statistics Office showed Friday. Gross domestic product climbed 0.7 percent from the second quarter, when it grew 0.9 percent.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.