April 12 (Reuters) - De Longhi SpA: * Signs contract to acquire 40 pct of Swiss group Eversys, with option to acquire the remaining 60 pct through a “put & call” mechanism * “Put & call” mechanism to acquire Eversys to be exercised by June 30, 2021 (not earlier than 2 years following the closing date) * Initial maximum cash out will amount to about 21 million Swiss francs ($20.90 million) and will include a consideration for the 40 pct equity stake ranging from 15.3 million francs to 17.4 million francs and, for the residual part, a shareholder loan to finance the investments envisaged by the business plan * The maximum payable price for the 100 pct of Eversys is estimated in approximately 100 million francs Source text: www.1info.it Further company coverage: ($1 = 1.0050 Swiss francs) (Gdynia Newsroom)
De Longhi has agreed to purchase 40% of Swiss company Eversys, with the option to acquire the remaining 60% with a “put and call” mechanism offered up until 30 June, 2021. The deal is expected to be completed by mid-2019, subject to regulatory approvals.