| 2019-01-21 09:26:48|
THO 09:26 01/21 01/21/19
Thor finalizing talks to exclude EHG's North American operations from deal
Thor Industries provided an update on its pending acquisition of the Erwin Hymer Group. The company announced that Thor and the sellers are finalizing discussions to exclude EHG's North American operations from Thor's purchase of EHG. Thor and EHG are currently negotiating appropriate revisions to the terms of the stock purchase agreement including adjustments to the purchase price and assumed liabilities as a consequence of the exclusion of EHG's North American operations, the company said. Upon completion of the current negotiations, Thor will provide an update regarding the changes to the financial terms of the agreement resulting from the exclusion of the EHG's North American operations from the transaction. The revised terms are expected to include, among other things, both a reduction in the purchase price and a reduction in the obligations the company would have otherwise assumed under the terms of the original stock purchase agreement, as well as a reduction in the acquisition financing debt the Company has syndicated to fund the purchase. The equity consideration component of the purchase price is not anticipated to change and the negotiated adjustments are expected to be made within the terms of the company's committed acquisition debt financing agreements.