The maximum price is EUR14 milion and will be paid in a single instalment on the date of the completion of the transaction, using company money and/or funding from banks, as shown in a decision of a general meeting of the shareholders sent to the Bucharest Stock Exchange on Tuesday.
The shareholders also approved taking out an up to EUR15 million loan facility to fund the acquisition. The loan should be repaid in no more than five years and interest will be on market terms, Aquila officials say.
KITAX has HUF3 billion (EUR7.3 million) revenue and specializes in distribution of professional cleaning and hygiene products and consumables for the hotel, restaurant, catering sector and occupational health and safety equipment, according to the corporate website.
(English version by Loredana Fratila-Cristescu)