French construction company Saint-Gobain (SGOB.PA) announced on Friday a deal to buy E-Mix, Asian mortar and, dry mixes company, for around 104 million euros ($116 million) as part of plans to boost its presence in emerging markets.
Saint-Gobain said the deal would be based on a price of 160 million Singapore dollars ($116 million), representing 6.6 times E-Mix’s 2015 adjusted EBITDA (earnings before interest, tax, depreciation and amortization).
Shares in Saint-Gobain, which has been embroiled in a move to take control of Swiss chemicals maker Sika (SIK.S), closed down 0.9 percent on Friday.
($1 = 0.8992 euros)
($1 = 1.3832 Singapore dollars)
(Reporting by Sudip Kar-Gupta; Editing by John Irish)
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Source: Reuters.com
