Company News Summary
ALS Announces Acquisition of Corplab in South America
Original announcement: ALS announces acquisition of Corplab in South America
ALS announced that it has completed the purchase of an 80% shareholding of the operations of the Corplab laboratory group in South America for an Enterprise Value of A$38m. Corplab's current shareholders will retain 20% of the company whilst they remain in executive positions with the company. The Company has a five year Put and Call option over the outstanding shares. The Company reported the acquisition of Corplab brings ALS total staff in South America to 1200 and will be earnings per share accretive in the first year of ownership.
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