22nd Jun 2016 06:23
LONDON (Alliance News) - FTSE 250-listed self-storage provider Safestore Holdings PLC on Wednesday said it expects to complete the GBP44.4 million acquisition of Space Maker Ltd on July 29.
Safestore announced the deal in March and said the acquisition is set to be immediately earnings accretive. It added the purchase will support its future dividend-paying capacity. Like Safestore, Space Maker also provides self-storage facilities.
An initial consideration of GBP43.0 million will be paid to acquire Space Maker, plus another GBP1.4 million in deferred consideration to be paid based on Space Maker meeting performance targets over the three years following completion.
By Sam Unsted; [email protected]; @SamUAtAlliance
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