ALPHA Corporation completed the acquisition Société de Peinture de Pièces Plastiques from a group of sellers.
February 11, 2019
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ALPHA Corporation (TSE:3434) entered into share purchase agreement to acquire Société de Peinture de Pièces Plastiques (SPPP) from a group of sellers for €22.8 million on October 1, 2018. The acquisition price consists of the share purchase price of €19.433 million, and the purchase price of convertible bonds in the amount of €2.754 million. The acquisition price will be subject to adjustment based on the net debt and working capital amounts at the closing date. Post completion, SPPP SAS will become wholly owned subsidiary of ALPHA. For the year ended December 31, 2017, SPPP had net assets of €4.308 million, sales of €16.055 million, total assets of €7.936 million and net income of €0.809 million. Alpha will acquire 75% stake in SPPP on October 2, 2018, and the remaining 25% stake at the end of January 2019.
David Wolfe of Northstar Corporate Finance and Daniel Konas of Daniel Konas Awenum acted as the financial advisors and Nick Wall of Allen & Overy acted as the legal advisor for ALPHA. Jean-Arthur Dattée, Benjamin Pasquet and Jean-Paul Bruna of Capitalmind acted as the financial advisors and Pierre-Olivier Brouard and Cécile Besson of Alérion acted as the legal advisors for Isatis Capital SA, CITA Investissement and Bpifrance Investissement.
ALPHA Corporation (TSE:3434) completed the acquisition Société de Peinture de Pièces Plastiques (SPPP) from a group of sellers on October 1, 2018. ALPHA paid €18.935 million for the shares as acquisition price and €2.754 million for the convertible bonds. ALPHA also paid an additional cost including advisory costs of JPY 120 million.
ALPHA Corporation is a Japan-based company mainly engaged in the manufacture and sale of keys and locks for automotive, housings and industrial equipment, as well as the provision of related products and services. The Company has six business and region segments. The Automotive Parts (Japan, North America, Asia, Europe ) segment is engaged in the manufacture and sale of steering locks, key cylinders, keyless entries, intelligent key systems and other key set products, as well as outside and inside door handles. The Company operates the business in Japan, the United States, Mexico, Thailand, China, India, Indonesia, Czech Republic, Slovakia and France. The Security Equipment (Japan, overseas) segment is engaged in the manufacture and sale of electric locks, door locks and other housing locks, industrial equipment locks, coin lockers for stations, pools and gymnasiums, delivery boxes for apartments and detached houses. The Company operates the business in Japan, Thailand and China.
ALPHA CORPORATION 
