Welcome to the new morningstar.co.uk! Learn more about the changes and how our new features help your investing success.

Kingspan To Acquire Two Recticel's Units For EUR700 Million

LONDON (Alliance News) - Building material firm Kingspan Group PLC on Tuesday said it has made an ...

Alliance News 16 April, 2019 | 11:05AM
Email Form

LONDON (Alliance News) - Building material firm Kingspan Group PLC on Tuesday said it has made an offer to acquire the entire Insulation and Flexible Foams divisions of Belgian mattress manufacturer Recticel NV/SA's for EUR700 million.

The offer is subject to approval by the board of Recticel, completion of customary due diligence and transaction documentation, and receipt of regulatory clearances, Kingspan said. It added that there can be no certainty that the offer will result in an agreement being concluded with Recticel.

Following completion of the acquisition, Kingspan intends to dispose of all of the Flexible Foams businesses to an unnamed third party.

Kingspan shares were trading up 3.4% at EUR46.08 each on Tuesday morning.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

Email Form

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Kingspan Group PLC 47.86 EUR 0.76 -
Kingspan Group PLC 47.84 EUR 0.80 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation


By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites