Enterprise value of $577.5m for DADI, doesn't like Toxfree $671m...

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8horse

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18/03/19

14:04

Post #: 37798031
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Originally posted by 8horse ↑

CWY acquired Toxfree for $671m with EV/EBITDA at about 10 last year.

The Scheme Consideration values Toxfree’s fully diluted equity at approximately $671 million,(1) and at an enterprise value of $831 million,(2) implying a FY2017 P/E multiple of 27.8x, a FY2017 EV/EBIT multiple of 20.0x and a FY2017 EV/EBITDA multiple of 10.0x

"Bingo Industries (ASX: BIN) today announced it has entered into a binding agreement to acquire DADI for an enterprise value of $577.5 million. Consideration for the acquisition will comprise $377.5 million in cash and $200.0 million in Bingo shares to be issued to the vendors of DADI at completion of the Acquisition"
"Implied acquisition multiple of approximately 9.6 times EV/EBITDA and 10.7 times EV / EBIT for the 12 months ending 30 June 20195 – 7.7 times EV / EBITDA and 8.4 times EV / EBIT including expected run-rate synergies of $15 million per annum"

This ratio will improve further as $200m shares were deemed issued at $2.54/share.

Enterprise value of $577.5m for DADI, doesn't like Toxfree $671m + $160m net debt for Enterprise value of $831m.
So, my estimated, DADI's vendors take the debts by themselves. So additional debts to BIN.

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Enterprise value of $577.5m for DADI, doesn't like Toxfree $671m + $160m net debt for Enterprise value of $831m.
So, my estimated, DADI's vendors take the debts by themselves. So no additional debts from DADI to BIN.

BIN Price at posting: $1.57 Sentiment: Buy Disclosure: Held
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Enterprise value of $577.5m for DADI, doesn't like Toxfree $671m...

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