The hottest Oriental Seiko acquired packaging pape

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Dongfang Seiko paid a premium of more than six times to acquire the packaging paper enterprise

after the suspension of trading for three months, Dongfang Seiko finally released the asset restructuring plan today, and has signed a sale and purchase agreement with the original shareholders of Fosbury (Italy), intending to purchase 1.8 million shares of Fosbury (Italy) held by eight shareholders including eretto in cash, accounting for 60% of its total shares

the premium of this acquisition transaction is more than 6 times, and the counterparty has also made relatively generous performance commitments, which will help Dongfang Seiko meet the performance requirements of equity incentive and implement the incentive plan

it is planned to purchase 60% of the equity by more than 300million yuan

according to the announcement, the estimated value of the subject matter of this transaction is about 334million yuan, an increase of 628.99% over the unaudited book value of the latest period. At present, the relevant appraisal work is in progress, and the final asset appraisal results will be disclosed in the major asset purchase report. At present, the transaction has been priced at 40.8 million euros

according to the data, fosper (Italy) focuses on the R & D and production of corrugated board production lines and related equipment. It is one of the main high-end corrugated paper production lines in the European and American markets. 2. Steel parts are often twisted and easily worn. Its customers cover major global large-scale packaging enterprises such as internationalpaper and Smurfit, with cobalt accounting for 60% of kappaturnhout's used hand motor pool

after the completion of the transaction, fosper (Italy) will become the holding subsidiary of Dongfang Seiko and will consolidate the scope of statements. In the future, the remaining 40% equity of fosper (Italy) will be transferred to Dongfang Seiko through options

the performance commitment is close to the net profit of last year

on the actual indoor putty jg/t3049 ⑴ 998. In view of the merger and acquisition case, Dongfang Seiko and relevant parties also made clear the transaction premise and performance commitment in the sale and purchase agreement

according to the plan, the adjusted net profit of fosper (Italy) in 2013 is not less than 6million euros, which is one of the prerequisites of this transaction. If the actual net profit is less than 6million euros at that time, this transaction will fail

Oriental Seiko predicts that fosper (Italy) will realize a net profit of 55.1844 million yuan (6.7324 million euros) in 2013. At the same time, the counterparty made a commitment that the performance of fosper (Italy) from 2013 to 2016 was 6.5 million euros, 7.0 million euros, 7.5 million euros and 7.5 million euros respectively

if according to the commitment, fosper (Italy) achieved a net profit of 6.5 million euros in 2013, this figure will be very close to the net profit of Oriental Seiko in 2012 (63.9075 million yuan), which undoubtedly has a significant impact on its performance

at the beginning of June this year, Dongfang Seiko just revised and approved the first equity incentive plan. The incentive objects include the general manager and other core backbones, and completed the grant of stock options in July

however, due to changes in the macroeconomic environment, Dongfang Seiko achieved a net profit of 32.02 million yuan in the first half of this year, a year-on-year decrease of 15.84%. Some investors pointed out that if the acquisition plan is completed and fosper (Italy) fulfills the relevant performance commitments, it will undoubtedly help Dongfang Seiko pass the equity incentive performance assessment

up to several 10 tons (such as ordinary steel; the largest electronic universal experimental machine in China has an experimental force of 600kN, level 0.5 machine)

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