Cyril Sweett Group plc (CSG.L) announced that the Group's wholly owned unit, Cyril Sweett International (Holdings) Ltd., has agreed to purchase the entire share capital of Widnell Ltd.
At current rates of exchange, the consideration comprises 2 elements, a maximum of £5.4 million in respect of the shares and a further sum in recompense for a proportion of net assets delivered at completion. The £5.4 million in respect of the shares is payable as to £3.1 million in cash and £2.3 million in shares with the initial consideration amounting to £3.2 million.
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