Nordic Business Report-August 15, 2006-UPDATE: Perlos Corporation joint venture with Ratos AB proceeds to next stage
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(Adds new paragraph 6 with information from Ratos statement.)
Finnish telecomms and healthcare products designer and manufacturer Perlos Corporation said on Tuesday (15 August) that the new joint venture the company intends to establish with the Swedish private equity investor Ratos AB had proceeded to the next stage.
Perlos and the new company have now signed a definite sale and purchase agreement, Perlos said.
The cash and debt free purchase price of Perlos' Healthcare business by the new company is some EUR67m, which will be paid in cash.
Perlos will make a maximum equity investment of EUR9m in the new company, representing a shareholding of some 20%.
The Perlos Healthcare business unit's acting management will acquire a shareholding of some 2%, while Ratos' shareholding of the new company will be approximately 78%.
Ratos said in a separate statement that it would make a maximum equity investment of EUR30.4m in the newly formed holding company.
The closing of the deal is expected to take place by the end of 2006 after competition authority approval has been received and other closing conditions of the transaction have been fulfilled.
One euro (EUR) is worth approximately 0.68 British pounds (GBP).
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