Redde has agreed to acquire FMG, a fleet management specialist, for £43.2m total consideration – funded primarily from existing balance sheet resources. The acquisition will be immediately earnings accretive and also present opportunities for revenue synergies and efficiencies as Redde introduces existing capabilities to FMG’s customer base. The yield remains the key valuation metric and we anticipate a further increase in the dividend on additional earnings from FMG. Sustainable income characte ....
20 Aug 2015
Acquisition of FMG, additional earnings to drive yield
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Acquisition of FMG, additional earnings to drive yield
Redde Northgate PLC (21W:FRA) | 0 0 0.0% | Mkt Cap: 498.3m
- Published:
20 Aug 2015 -
Author:
Andrew Watson -
Pages:
3
Redde has agreed to acquire FMG, a fleet management specialist, for £43.2m total consideration – funded primarily from existing balance sheet resources. The acquisition will be immediately earnings accretive and also present opportunities for revenue synergies and efficiencies as Redde introduces existing capabilities to FMG’s customer base. The yield remains the key valuation metric and we anticipate a further increase in the dividend on additional earnings from FMG. Sustainable income characte ....