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NFI Group Inc. Announces Acquisition of Alexander Dennis Limited
NFI Group Inc. Announces Acquisition of Alexander Dennis Limited Canada NewsWire ...
About this update from Nfi Group Inc.
[{"type":"text","content":"\n\n\n\nNFI Group Inc. Announces Acquisition of Alexander Dennis Limited\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWINNIPEG, May 28, 2019\n\n\n\nNFI Group Inc., (\"NFI\") is North America's largest and most diversified bus and coach manufacturer providing market leading transportation solutions under the brands: New Flyer®, MCI®, ARBOC® and NFI Parts™. Tracing its roots back to 1930, NFI has over 74,000 vehicles in service in Canada and the United States.  \nAlexander Dennis Limited, (\"ADL\") is one of the world's leading independent bus and coach manufacturers and the number one global producer of double deck buses. With a long history spanning more than a century, ADL has over 31,000 vehicles in service in the UK, Europe, Hong Kong, Singapore, New Zealand, Mexico, Canada and the United States sold under the Alexander Dennis and Plaxton brands. \nNFI has acquired ADL for £320 million (approximately U.S. $405 million) representing an implied purchase multiple of 7.3x ADL's fiscal year 2018 Adjusted EBITDA(1). Transaction is expected to be immediately accretive (before potential synergies) to NFI earnings per share and cash flow per shareThe transaction was funded through NFI's existing credit facility, a new US$300 million credit facility and the issuance from treasury, of 1.47 million common shares of NFI, in lieu of cash, to ADL's primary shareholders, including ADL's CEO and CFO The combined business creates an independent global bus OEM with market leading positions in the United Kingdom, Hong Kong, North America and a growing footprint in Asia Pacific, Lati...