British investment firm Rosebank Industries (ROSE.L) on Friday said it will raise about 1.14 billion pounds ($1.55 billion) to finance the acquisition of U.S.-based Electrical Components International.
Rosebank, which focuses on acquiring, enhancing and eventually selling businesses, had restarted talks to buy ECI earlier this week for under $1.9 billion.
The British company finalised the deal value at less than $1.9 billion on Friday, which will be financed through debt facilities and a fully underwritten institutional capital raise at 3 pounds apiece.
Source: Reuters.com