Nordic Business Report-September 19, 2006-Oyj Leo Longlife Plc to acquire Tiimari Oyj
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The Finnish industrial business and product marketing company Oyj Leo Longlife Plc said on Tuesday (19 September) that it had signed an agreement to acquire Maritii Oy, the parent company of the gift and hobby shop chain Tiimari Oyj.
The sellers are funds managed by the Finnish private equity company CapMan Plc as well as individual investors.
The total consideration for the share capital is some EUR21m and the total transaction, including assumed debt, is valued at some EUR61m.
After the acquisition Leo Longlife will assume the Tiimari name, the company said.
Maritii Oy's comparable turnover for 2006 is expected to reach some EUR70m and operating profit (EBITDA) is forecast to exceed EUR8.0m.
One euro (EUR) is worth approximately 0.67 British pounds (GBP).
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