Wendel: firm offer received for CSP Technologies

(CercleFinance.com) - Wendel announces that it has receives a firm offer from Aptar Group to acquire CSP Technologies, an expert in polymer packaging and specialty product protection solutions, for a value of 555 million dollars, or 13 times adjusted EBITDA.


Taking into account the quality of the offer, Wendel has entered into a period of exclusivity with Aptar to hash out the details of the deal, which is set to close towards the fourth quarter of 2018, subject to regulatory and legal authorisation.

Based on this offer, the investment group should receive 345 million dollars net, thereby valuing CSP at around 140 million dollars more than its valuation in Wendel's NAV of 2 May 2018.

Copyright (c) 2018 CercleFinance.com. All rights reserved.