Tricorn Group – 25.5p

4 March 2013 – acquisition

The company has announced that it has agreed to purchase the trade and certain assets of the former Whitley Products Inc, which has been in receivership in the US since 30 January.  The total cash consideration is $2.99m.  The consideration will be paid from the Tricorn’s own cash resources.  The net book value of the assets being acquired, including property, plant and equipment, is approximately $4.3m.  The move represents another step forward for Tricorn and we maintain our BUY rating.

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