Hypermarcas Seen Growing With Mantecorp
Analysts reacted positively to Hypermarcas’ announcement Monday that it would acquire Mantecorp in a BRL2.5bn deal, though the stock slumped on technical pressure. The deal, which values Mantecorp at BRL2bn, once BRL500m in goodwill is amortized, comes at a multiple of 16x 2010E Ebitda. The company claims this will fall to 8.2x Ebitda after the first phase of integration is completed, on the...
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