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EAC Invest — M&A Activity 2010
Nov 25, 2010
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Download source fileSanta Fe's (EAC Moving & Relocation Services) offer to acquire Wridgways,
Australia, by way of a scheme of arrangement, was today approved by the
requisite majority of Wridgways' shareholders. The offer is described in
further detail in the EAC company announcement of 20 September 2010.
The completion of the transaction is now subject to a final approval by the
Federal Court of Australia. The approval is expected in early December 2010.
Wridgways is Australia's leading removal and relocation company and when
completed, the acquisition will double Santa Fe's revenue and create a
market-leading industry player in the fast growing economies of the
Asia-Pacific region. The combined business will handle some 42,000 relocations
annually with total revenue of approx. DKK 1.3bn and an EBITDA margin of around
10% (2010 pro forma estimate).
EAC will provide further information upon the completion of the transaction.
Yours sincerely,
The East Asiatic Company Ltd. A/S
For additional information, please contact:
President & CEO Niels Henrik Jensen
+45 3525 4300
[email protected]
Group CFO Michael Østerlund Madsen
+45 3525 4300
[email protected]
www.eac.dk