NTG Nordic Transport Group A/S (CPSE:NTG) signed a letter of intent to acquire 85% stake in Ebrex Business Solutions Limited on September 24, 2019. An agreement is expected to be signed within three months. As of December 20, 2019, NTG Nordic Transport Group entered into a share purchase agreement to acquire 85% stake in Ebrex Business Solutions Limited. The non-binding valuation is expected to be a single-digit EBIT multiple. The transaction values 100% of the shares in Ebrex Business Solutions at €19.8 million on a net debt-free basis, excluding IFRS 16 effects. Ebrex Business Solutions will be included in full in NTG Nordic Transport Group’s financial reports as of closing. NTG Nordic Transport Group will finance the purchase price with available cash and its credit facilities. In 2018, Ebrex Business Solutions reported revenue of €41.4 million and EBIT of €3.8 million. The current executive management, Arvid Meijer and Heinrich de Waal, will continue as management and shareholders in Ebrex Business Solutions Ltd. after closing. The transaction is subject to certain conditions, including approval from relevant competition authorities as the transaction is expected to be subject to merger control in one or more countries. Transaction closing is expected in February 2020. The transaction will not impact the previously communicated guidance for NTG Nordic Transport Group’s 2019 financial results.