UK markets closed
  • FTSE 100

    6,725.72
    +95.20 (+1.44%)
     
  • FTSE 250

    21,204.69
    +243.38 (+1.16%)
     
  • AIM

    1,162.57
    -0.69 (-0.06%)
     
  • GBP/EUR

    1.1650
    +0.0033 (+0.28%)
     
  • GBP/USD

    1.3810
    -0.0018 (-0.13%)
     
  • BTC-GBP

    36,724.81
    -38.16 (-0.10%)
     
  • CMC Crypto 200

    1,025.80
    +1.59 (+0.16%)
     
  • S&P 500

    3,861.81
    +19.87 (+0.52%)
     
  • DOW

    31,922.42
    +426.12 (+1.35%)
     
  • CRUDE OIL

    65.46
    -0.63 (-0.95%)
     
  • GOLD FUTURES

    1,677.00
    -21.50 (-1.27%)
     
  • NIKKEI 225

    28,743.25
    -121.07 (-0.42%)
     
  • HANG SENG

    28,540.83
    -557.46 (-1.92%)
     
  • DAX

    14,381.54
    +460.85 (+3.31%)
     
  • CAC 40

    5,908.91
    +126.26 (+2.18%)
     

MLP SE: MLP signs a contract for acquiring 100 percent of industrial insurance broker RVM

·2-min read

MLP SE / Key word(s): Mergers & Acquisitions/Takeover
MLP SE: MLP signs a contract for acquiring 100 percent of industrial insurance broker RVM

08-Feb-2021 / 17:55 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Today MLP, through its wholly owned subsidiary MLP Assekuranzmakler GmbH, has signed a contract for acquiring a 100 percent stake in RVM Versicherungsmakler GmbH & Co. KG, including its key subsidiaries ("RVM"). With the transaction, MLP is strategically expanding its market position for commercial and industrial insurance and laying the foundations for further acquisitions of medium-sized market players in this consulting field. With MLP Assekuranzmakler GmbH as an intermediate holding company, a new industrial insurance broker segment will be created.

The total purchase price is in the mid-double-digit million range. It comprises a mechanism by which part of the purchase price is linked in retrospect to the quality of business development up to the end of 2022.

RVM is an industrial insurance broker that focuses on medium-sized clients. It has around 200 employees that serve more than 2,500 companies. RVM generated sales revenue of just under EUR 19 million in 2019. MLP is anticipating a mid-single-digit EBIT contribution on an annual basis from the new industrial insurance broker segment from the first full financial year onwards, the year 2022. This segment will initially comprise RVM after completion of the transaction.

The acquisition is expected to be completed in the second quarter 2021 with economic effect from January 1, 2021, subject to approval by the competition authorities.

A significant portion of RVM's EBIT is generated in the first quarter of a year due to the seasonal nature of the business. Until the transaction is implemented, the result for the year 2021 will be recognized in equity capital.

EBIT represents an alternative KPI, which is described in further detail at:

https://mlp-se.com/investors/mlp-share/key-figures/

Contact/notifying person:

Jan Berg

Head of Corporate Communications

Tel: +49 6222 308 4595

Email: jan.berg@mlp.de

08-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

MLP SE

Alte Heerstraße 40

69168 Wiesloch

Germany

Phone:

+49 (0)6222-308-8320

Fax:

+49 (0)6222-308-1131

E-mail:

investorrelations@mlp.de

Internet:

www.mlp-se.de

ISIN:

DE0006569908

WKN:

656990

Listed:

Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange

EQS News ID:

1166833


 

End of Announcement

DGAP News Service

show this
show this