Ituran's to Acquire Road Track Holding S.L - A Telematics Company Operating Primarily in Latin America
Ituran Location and Control Ltd. - Ordinary Shares (ITRN)
Last ituran location and control ltd. - ordinary shares earnings: 3/4 06:30 am
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US:NASDAQ Investor Relations:
ituran.com/ituranfront/en/about-ituran/investor-relations
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Source: PR Newswire
AZOUR, Israel, July 24, 2018 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN), today announced the acquisition of the majority of the shares of Road Track Holding S.L, a telematics' company operating primarily in the Latin American region.Ituran will pay the shareholders of Road Track Holding S.L $91.7 million for 81.3% of the company valuing the company at approximately $113 million. Of this, $75.7 million will be paid in cash, through a debt facility provided by Ituran's lending bank. An additional $12 million will be paid in Ituran shares. The remaining $4 million will be paid out of the company's equity as a bonus over the coming three years to the senior management of Road Track Holding S.L who will remain with Ituran through the end of that period. The final acquisition price may be subject to downward adjustments depending on the full year 2018 performance of the Road Track business. Following three years of joint operations, Ituran will purchase the remainder of
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ITRN
Sec Filings
- 4/18/24 - Form 20-F
- 3/20/24 - Form SC
- 2/29/24 - Form 6-K
- ITRN's page on the SEC website