Ceramic Industry News

FLSmidth to Acquire Ludowici

February 24, 2012
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FLSmidth recently announced it has entered into a Scheme Implementation Agreement with Ludowici Ltd., under which FLSmidth has agreed to pay AUD 10.00 (~ $10.69) per share for all shares of Ludowici, which it will acquire by way of a scheme of arrangement. The price will be reduced by any dividends that Ludowici pays to its shareholders prior to completion. The price corresponds to an enterprise value of approximately AUD 358 million (~ $382,9 million) on cash and debt free basis.

Under the Scheme Implementation Agreement, Ludowici may pay an ordinary dividend of up to AUD 0.20 (~ $0.21) per share and a special dividend of up to AUD 0.60 (~ $0.64) per share, the special dividend being payable only if the scheme becomes effective.

For more information, visit www.flsmidth.com or www.ludowici.com

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