Platform Specialty Products To Buy Agriphar For EUR 300 Mln - Quick Facts

(RTTNews) - Platform Specialty Products Corp. (PAH), a specialty chemicals company, has agreed to acquire Agriphar, a premier European agrochemicals group, in 300 million euros worth transaction, which is expected to be funded via. a combination of debt and cash on hand with a closing in the fourth quarter of 2014.

The acquisition is expected to be immediately accretive to Platform's adjusted earnings, prior to the benefit of potential synergies. In 2013, Agriphar's revenue was around 127 million euros and adjusted EBITDA margin slightly above 20%. European crop protection group Agriphar's free cash flow and profitability are in line with Platform's "asset-lite/high-touch" business model.

Lazard and Barclays Capital acted as financial advisors and Allen & Overy acted as legal counsel to Platform on the transaction.