Recently, Rifa Precision Machinery Co., Ltd. (hereinafter referred to as Rifa Precision Machinery)’s acquisition of the equity of Italian MCM Company has finally been settled. The company will acquire 80% of the equity of MCM Company by paying cash.
According to the announcement, Rifa Precision Machinery plans to pay cash to Gabriele Gasperini and other five people to purchase 80% of the equity held by them in the Italian MCM company with super-raised funds and self-raised funds, for a price of 11.809 million euros. In addition, the buyer and the seller also agreed on the remaining 20% equity of MCM Company. Rifa Precision Machinery sets up a put option to MCM Company, and the seller sets up a call option to the buyer. Neither the buyer nor the buyer can withdraw the delivery of this option. When either the seller or the buyer proposes delivery of the remaining 20% equity, that is, the remaining 1,091 shares, two years after the delivery date and within 5 years of the delivery date, the other party shall unconditionally cooperate with the delivery matters, and the transaction price will be 3.16 million euros.
MCM Company is mainly engaged in the R&D, production and sales of high-end CNC machine tools, including large machining centers, heavy-duty machine tools and key components. Its products are widely used in aviation, weapons, automobiles, energy, military industry and other fields. It is understood that MCM’s net assets are 1.7694 million euros, and the estimated value of this transaction is 124 million yuan, with a value-added rate of 734.27%. MCM Company achieved operating income of 341 million yuan and 470 million yuan in 2012 and 2013 respectively, and net profits in the same period were losses of 27.0158 million yuan and 6.588 million yuan respectively.
It is reported that Rifa Precision Machinery intended to acquire MCM Company through private placement in May this year. However, the market “voted with their feet” as soon as the plan came out. The stock price plummeted for three consecutive days, and then fell below 20.80 yuan/share. Additional issuance price. In this context, the company was forced to announce that it would change the scheduled increase to restructuring.
