By Anthony O. Goriainoff
ACQUIRER: Kingspan Group PLC, a London-listed, Ireland-based building and insulation-materials company.
SELLER: French private equity firm Naxicap Capital Partners, and others.
TARGET: Roofing company Ondura, which comprises Onduline SAS, Alwitra Holding, CB SA and their subsidiaries.
PRICE: 550 million euros ($624.9 million) debt free, cash free, payable in cash upon completion.
STATUS: Subject to standard French employee procedure and customary regulatory clearances.
EXPECTED CLOSE: Second half of 2022
RATIONALE: The acquisition tallies with Kingspan's strategy to develop multiple technologies in roofing applications. The company said Ondura's existing management teams will be retained.
STOCK MOVE: Shares at 0808 GMT were up EUR3.52, or 3.8%, at EUR95.12.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
02-18-22 0327ET