Acquisition

21st Jan 2008 07:00

21 January 2008

Premier Farnell announces Agreement to acquire in the Indian market

Premier Farnell plc (Premier Farnell), the leading multi-channel, high service distributor of essential products and services to millions of engineers and purchasing professionals globally, advises that, following the announcement of our signing of a letter of intent on October 3rd, 2007 and the successful completion of due diligence, it has entered into an agreement to acquire the assets and goodwill of Hynetic Electronics Private Limited used in carrying on its business in India as an existing authorised distributor of `Farnell' products. The purchase consideration will be satisfied in cash and not in excess of ‚£0.5 million.

Completion of the transaction is subject to the fulfilment of certain conditions and it is anticipated that the acquisition will be completed by January 31, 2008.

For further information, contact:

Harriet Green, Chief Executive Officer

Jenny Peters, Head Corporate Communications

Premier Farnell plc

+44 (0) 20 7851 4100

Richard Mountain / Harriet Keen Financial Dynamics +44 (0) 20 7269 7121

PREMIER FARNELL PLC

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