AIMFF - Aimia buys India's Tufropes for C$249.6M

• Aimia ( TSX: AIM:CA ) ( OTCPK:AIMFF ) said Tuesday it bought Tufropes, an Indian manufacturer of synthetic fiber ropes and nets, for a purchase price of C$249.6 million.
• Aimia will buy Tufropes on a cash-free and debt-free basis, subject to customary adjustments related to net debt and working capital at closing.
• Transaction will be initially financed with Aimia's cash on hand.
• Transaction closing is expected to occur before the end of the first quarter of 2023.
• Aimia is currently evaluating financing options with an expectation to raise a modest level of debt at Tufropes within one year of closing.
• Paladin Private Equity will act as Aimia's partner on the transaction.
• Tariq Osman and Eric Hauser of the Paladin team will join the Tufropes board and support its strategic growth initiatives.
• Kotak Investment Banking acted as sole financial advisor to Tufropes.

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