OC Oerlikon Corporation AG completed the acquisition of INglass S.p.A for approximately CHF 350 million.
OC Oerlikon Corporation AG (SWX:OERL) completed the acquisition of INglass S.p.A for approximately CHF 350 million on June 10, 2021. After receiving all the required merger control approvals, Oerlikon and INglass S.p.A. successfully closed the acquisition on June 9, 2021. INglass S.p.A will be consolidated as of June 1, 2021. Mediobanca Banca di Credito Finanziario S.p.A. acted as financial advisor to INglass S.p.A. The total purchase consideration for the acquisition of INglass S.p.A. amounts to CHF 347 million and includes CHF 239 million paid in cash in the reporting period, the transfer of treasury shares of OC Oerlikon Corporation AG, Pfäffikon, with a fair value of CHF 40 million at closing date, CHF 13 million payable within the next 12 months and contingent consideration of CHF 55 million. The contingent consideration relates to earnout arrangements which are based on financial metrics (EBITDA targets).