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Stock Market & Financial Investment News

News Breaks
December 9, 2013
08:09 EDTANDAAndina Acquisition provides 2014 Tecnoglass projections
Andina Acquisition and Tecnoglass jointly announced that Tecnoglass has provided revenue, adjusted EBITDA, and net income forecasts for the year ending December 31, 2014 of $260.9M adjusted EBITDA of $42.7M and net income of $16.9M respectively. Tecnoglass’ projections for 2014 reflect better than forecasted growth in key markets, particularly the U.S. Andina and Tecnoglass have entered into a merger agreement that will allow Tecnoglass to go public, with the current owners of Tecnoglass retaining majority ownership and control. As announced on December 4, all shareholders of record as of November 22 are entitled to vote at Andina’s Extraordinary General Meeting of Shareholders, in person or by proxy to approve, among other things, the proposed business combination between Andina and Tecnoglass.
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