JOST Werke AG (XTRA:JST) signed an agreement to acquire Alo Holding AB from Altor Fund III LP managed by Altor Equity Partners AB, Fort Knox Förvaring AB and Management Investors for an enterprise value of approximately €250 million (SEK 2.6 billion) on December 13, 2019. The transaction will be financed through a combination of cash, existing credit lines and a new term loan. Post-acquisition, JOST's existing agricultural business will be transformed into another cornerstone of the group. Alo has revenue of about SEK 2 billion. The acquisition is subject to approval by the relevant antitrust authorities and is expected to complete in the first quarter of 2020. As a result, leverage (net debt to LTM adjusted EBITDA) will temporarily increase to around 2.5x in 2020. By the end of 2021, JOST expects to reduce leverage back into the range of 1.0x to 2.0x. Albert Schander, Johan Nylén, Gustaf Rova and Michael Haas of Clairfield International acted as financial advisors to JOST Werke AG. Jan Ole Eichstädt, Stacia J. Sowerby, Matthias Kiesewetter, Alexandre Jaurett, Farhad Jalinous and Johan Steen of White & Case LLP acted as legal advisor and Alantra acted as financial advisor to Altor. Swedbank Investment Banking acted as financial advisor and EY acted as accountant to the sellers. Malin Leffler of Roschier, Attorneys Ltd and Emanuel P. Strehle, Andreas Hoger, Wolfgang Groß, Nikolaus Vieten and Alf-Henrik Bischke of Hengeler Mueller Partnerschaft von Rechtsanwälten mbB acted as legal advisors for JOST Werke AG. JOST Werke AG (XTRA:JST) completed the acquisition of Alo Holding AB from Altor Fund III LP managed by Altor Equity Partners AB, Fort Knox Förvaring AB and Management Investors on January 31, 2020. The transaction is approved by antitrust authorities. JOST used SEK 531.1 million (€50 million) cash in addition to debt to finance the transaction.