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Dutch Neways signs LoI to buy part of engineering firm DHV.

MANews-(C)2009-2011

Dutch electronic components and systems provider Neways Electronics (AMS:NEWAY) said it had signed a letter of intent (LoI) to buy certain operations of engineering firm DHV.

Financial details were not disclosed, but Neways expects to complete the due diligence review in early May.

As part of the deal, DHV's 54 employees engaged in the business will be relocated to Neways. After the divestment, DHV plans to focus on other markets, the company said adding that its activities in the field of infrastructure, water, environment and real estate remain outside the current deal.

According to Neways, the transaction will be immediately accretive to its results, while adding some EUR4m (USD5.7m) in revenue.Country: Netherlands, Sector: ElectronicsTarget: Certain business of DHVBuyer: Neways Electronics International NVVendor: DHVType: Corporate acquisitionStatus: ExclusivityComment: LoI

.END.PUB430>PDApril 6, 2011>JNMANEWS.PRICEDATENOT APPLICABLE.DAY

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Publication:M & A Navigator
Date:Apr 6, 2011
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