Interpump, through its subsidiary Interpump Hydraulics, completed the closing of the acquisition of 60% of the Imm Group. The provisional price of 10,3 million euro, explains a note, was paid at the closing as much as 7,2 million euro through sale of 276.000 listed shares of Interpump Group and through the payment of 5,4 million in cash.
The remaining part of the provisional price, equal to 3,1 million euros, will be paid in 2014 together with the adjustment, when the definitive price will be determined. Gilberto Candeloro, founder of the Group, will have the right to sell the remaining 40% starting from the date of approval of the 2017 financial statements.
With the acquisition of Imm Interpump Hydraulics further expands its range of products in Hydraulics. Imm's entry into the Interpump Group will allow important distribution synergies, as Imm will be able to use the Group's distribution network present throughout the world.
