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Fluidra will control all of the Hungarian Kerex after buying 73.2% for 4.5 million euros

MADRID, 9 Jun.

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Fluidra will control all of the Hungarian Kerex after buying 73.2% for 4.5 million euros

MADRID, 9 Jun. (EUROPA PRESS) -

Fluidra, through its subsidiary in Hungary, has signed a framework acquisition agreement whereby it will control the entire share capital of the Hungarian company Kerex after purchasing 73.23% of its shares for approximately 4.5 million euros and a capital contribution for the remaining 26.76%.

As reported this Thursday by the company to the National Securities Market Commission (CNMV), the consideration agreed for the 73.23% stake in Kerex will be paid at the closing of the operation, which is expected to take place next month September, once all the usual conditions precedent in this type of operation have been fulfilled.

However, the transaction will not be carried out if between the signing of the contract and the closing of the transaction there is any "material adverse change that negatively and significantly affects Kerex's business".

As a result of this operation, some current Kerex shareholders will have a 15% stake in Fluidra Magyarország, Fluidra's Hungarian subsidiary.

Kerex, one of the main Hungarian distributors of swimming pool equipment, will be integrated into Fluidra's current operations in Hungary.