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Mergers & Acquisitions | 27 March 2012

Mitsubishi Pencils Acquires 13.5% In Linc Pens For R20Cr

by Irfan Khan
Mitsubishi Pencils Acquires 13.5% In Linc Pens For R20Cr
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Linc Pen & Plastics has announced that Mitsubishi Pencil Co Ltd is investing R20Cr in the company as a part of it's Business and Capital Alliance Agreement. This transaction will give Mitsubishi a 13.5% stake in the stationary products manufacturer.

Linc Pen & Plastics is issuing 2 million shares at a price of R100 each, which translates to a premium of 110% on it's closing price of R47.55 on March 27. This deal values Linc Pens at R148Cr i.e 13.2x trailing 12-months EBITDA and 49x its net profit.

According to a press release on BSE, the objective of the partnership is to improve Mitsubishi Pencil's presence and the Uni / Uniball brand growth in India by employing Linc Pen's sales, marketing and growth capabilities and Mitsubishi's product development and writing instrument technology prowess.

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