BTS Group AB signs LoI to acquire APG and RLC

Nordic Business Report-August 4, 2006-BTS Group AB signs LoI to acquire APG and RLC
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Swedish business simulation training and consulting company BTS Group AB said on Friday (4 August) that it had signed a Letter Of Intent (LoI) regarding a possible acquisition of US-based training and consulting companies The Advantage Performance Group (APG) and The Real Learning Company (RLC).

The finalisation of the acquisition process is subject to the completion of a successful due diligence, definitive agreements and final board approval. The process is anticipated to be finalised in September 2006.

APG and RLC recorded combined net revenues of USD21.3m in 2005, BTS Group said.

BTS would acquire from Advantage Performance Group Inc and The Real Learning group all of their respective businesses including all immaterial rights and with net operating capital of USD2.6m.

The agreed payment consists of USD2.0m in the form of a new share issue to the sellers and an up-front cash payment of USD18m.

One US dollar (USD) is worth approximately 0.54 British pounds (GBP).

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