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Stock Market & Financial Investment News

News Breaks
July 21, 2014
09:22 EDTMNTXManitex to acquire PM Group for $107M
Manitex International announced that it has reached an agreement to acquire PM Group based in San Cesario sul Panaro, Modena, Italy. The agreement is subject to pending Italian court approval of a debt restructuring plan. Consideration of $107M in aggregate is to be paid $24M in cash provided by a new Manitex term loan with current Manitex bankers; $15M in new equity issuance distributed primarily to current PM banks and $68M in assumed debt and liabilities which includes working capital facilities for PM.
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