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American BankNote S.A. News
ABnote Signs Agreement to Acquire Interprint
Interprint operates in cards, identification and print management segments, providing payment and identification solutions in the Brazilian market. Its product portfolio includes inductive, prepaid and SIM cards, check books, driver's licenses, identity cards, biometry and RFID control solutions, electronic printing, among others. In 2007, consolidated revenues of Interprint and subsidiaries included in the transaction reached approximately R$ 260 million, with EBITDA margin of nearly 19%.
The acquisition will be paid partially in cash, in the amount of up to R$ 165,000,000.00, to be adjusted by net debt and working capital variations, and partially in shares of ABnote, with the issuance of 1,500,000 shares to the partners of Interprint at an average price of R$ 18.80 per share, with no preemptive right to the former shareholders of ABnote.
The cash payment of the transaction will be funded by an issuance of non- convertible simple debentures to be made by the Company.
The conclusion of the transaction is still subject to suspensive conditions and is expected to occur no sooner than 60 days. The acquisition is also subject to ABnote's shareholders' approval in an Extraordinary Meeting to be summoned.
The transaction will be submitted to the Brazilian antitrust authorities (CADE — Administrative Council for Economic Defense and SEAE — Secretariat for Economic Monitoring) according to the provisions of the legislation in force.
ABnote will hold a conference call to discuss the details of the transaction on
SOURCE American Banknote S.A.
