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
Yukiya Amano, Director General of the International Atomic Energy Agency (IAEA), said Monday that nuclear programs of the Democratic People's Republic of Korea (DPRK) and Iran remain matters of serious concern. The head of the United Nations nuclear watchdog made the remarks at the opening of the... Stocks largely turned in a lackluster performance during trading on Monday, as traders looked ahead to the Federal Reserve's monetary policy announcement later this week. Technology stocks saw significant weakness, however, resulting in a sharp drop by the tech-heavy Nasdaq. While most Americans support President Barack Obama's decision to take action against the terrorist group ISIS, the results of a new NBC News/Wall Street Journal/Annenberg poll found that the vast majority lack confidence that the U.S. will achieve its goals.
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.