Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Acquisition of E3 Technical business from Carweb

2 Oct 2017 07:00

RNS Number : 3307S
Haynes Publishing Group PLC
02 October 2017
 

Haynes Publishing Group P.L.C. ("Haynes").

 

 

Haynes (LON:HYNS) is pleased to announce that it has reached agreement on the acquisition of the E3 Technical business from Carweb Ltd., a Solera UK subsidiary, for a total cash consideration of £4.72 million (the "Transaction"). The consideration is being funded from Haynes' existing cash resources and banking facilities.

 

The E3 Technical business consists of repair and maintenance information ("RMI"), vehicle registration mark look-up ("VRM") and an associated provision of helpdesk services. The Transaction includes the acquisition of certain customer contracts, and employees from Carweb.

 

Commenting on the Transaction, Eddie Bell, Chairman of Haynes, said "this acquisition will significantly strengthen the Group's professional data solutions offering in the UK and provide cross over benefits for Haynes' consumer division."

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

 

Enquiries:

 

Haynes Publishing Group P.L.C. +44 1963 442009

E Bell, Chairman

J Haynes, Chief Executive Officer

 

Investor Contact: Panmure Gordon (UK) Limited +44 20 7886 2500

Karri Vuori

Erik Anderson

James Greenwood

 

Media Contact: New Century Media +44 20 7930 8033

Richard Hill

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQBBLBXDKFFBBV

Related Shares

Back to RNS

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.