Brief: USWE Sports Acquires VOID Cycling

USWE Sports AB

19/07/2021 06:31

July 19 (Reuters) - USWE Sports AB  USWE.ST :
    * SAID ON FRIDAY SIGNED BINDING AGREEMENT WITH TENSON BV AND
COLOR
GROUP BV, REGARDING ACQUISITION OF VOID CYCLING
    * PURCHASE PRICE IS SET AT SEK 10 MLN AND IS PAID IN CASH
    * "EARN-OUT" FOR MAXIMUM SEK 4 MLN BASED ON PRE-SALES FOR
SS2022;
POTENTIAL CASH PAYMENT WILL BE EXECUTED IN JULY 2022
    * TRANSACTION IS SET AS AN ACQUISITION OF ASSETS AND WILL BE
COMPLETED ON SEPT 20, 2021
    * VOID CYCLING IS FORECASTED AT SEK 8 MLN OF REVENUE WITH
NET
PROFIT FOR 2021
    * USWE EXPECTS VOID CYCLING TO BE GROWING AT SAME RATE AS
USWE
SPORTS AB, WHICH HAS TARGET ANNUAL GROWTH RATE OF 40%

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nMFN77QWQ4
    
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