SP Group acquires more shares in the profitable subsidiary TPI Polytechniek bv.
The acquisition is expected to strengthen SP Group's earnings per share in
2008.
As of 1 January 2008 SP Group has increased its share of the subsidiary TPI
Polytechniek bv from 70 pct. to 80 pct. Seller is Managing Director Jeroen van
der Heijden, who owns the remaining shares and who continues as the managing
director of the subsidiary. The parties agreed not to announce the acquisition
price, but the shares have been acquired at approximately5.5 times the profit
after tax in 2007 on a debt free basis. The shares will be paid in cash.
