January 8, 2019 / 4:15 AM / 13 days ago

BRIEF-Sika Says Made Binding Offer To Acquire Parex For Enterprise Value Of CHF 2.5 Bln

Jan 7 (Reuters) - Sika AG:

* SIKA MADE BINDING OFFER TO ACQUIRE PAREX FROM CVC FUND V

* DEAL FOR ENTERPRISE VALUE OF CHF 2.5 BILLION WITH EXPECTED ANNUAL SYNERGIES OF CHF 80 MILLION - 100 MILLION

* FINANCING OF TRANSACTION IS SECURED BY A BRIDGE LOAN FACILITY COMMITTED BY UBS AND CITI

* DEAL IS VALUE ENHANCING TO SIKA SHAREHOLDERS AND IS EXPECTED TO BE ACCRETIVE TO SIKA'S EARNINGS PER SHARE FROM FIRST FULL YEAR POST CLOSING Source text for Eikon: Further company coverage:

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