logo
Plus   Neg
Share
Email

Brink's Co. To Buy Maco Transportadora De Caudales For About $209 Mln

Brink's Co. (BCO) said that it has agreed to purchase Maco Transportadora de Caudales S.A. for about $209 million in cash, with the final purchase price subject to post-closing adjustments and foreign exchange translation.

The transaction is expected to close within 30 days, subject to customary closing conditions. Based in Buenos Aires, Maco's cash-in-transit and money processing operations will be integrated with Brink's existing operations in Argentina. Over the last 12 months, Maco generated revenue of approximately $90 million and adjusted EBITDA of approximately $24 million.

The acquisition is expected to be significantly accretive to net income in 2019, and slightly accretive in 2017.

The company will update its 2019 targets, including the impact of acquisitions, when it reports second-quarter earnings on July 26.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Airbus Group SE were losing around 2 percent in the morning trading in Paris after the Aerospace and defense major reported Friday a sharp decline in its first-quarter profit as revenues were hurt by weak deliveries. Further, the company confirmed its forecast for fiscal 2018 adjusted EBIT, a key earnings metric. Bill Harris, Co-founder and former CEO of Paypal, claims Bitcoin to be the greatest scam in history. Harris wrote his opinion on Bitcoin in an opinion piece was published in Recode. "In my opinion, it's a colossal pump-and-dump scheme, the likes of which the world has never seen," Harris said. Amazon.com Inc. (AMZN) Thursday reported a first-quarter profit that more than doubled from a year ago, driven largely by a huge 46 percent growth in revenues. Shares of the online retailer gained 6 percent in extended session. Seattle, Washington-based Amazon reported first-quarter profit of $1.63...
Follow RTT