Intermoney | Fluidra has informed the Stock Market Regulator (CNMV) that it will fully control Hungarian firm Kerex after buying 73,2% for 4,5 million euros. The transaction is expected to be closed in September 2022. This is after the usual suspensory conditions in this kind of deal have been met, and provided there is no material adverse change which negatively and significantly affects Kerex between the Signing and the Close of the operation.
Kerex will be integrated in Fluidra’s current operations in Hungary. This will allow the latter to offer an integrated and complete high-quality portfolio of products to its its extended client base in Hungary, along with an even more efficient service.
Valuation:
Positive news. It is a small acquisition, which will allow them to strengthen their commercial position in the Hungarian market.
