Izo-Blok acquired German SSW PearlFoam for € 21.5 million

Izo-Blok, a Polish producer of packaging and plastics, plans to conduct an ex-rights issue of up to 300,000 D-series shares in order to finance a takeover of German SSW PearlFoam. On Tuesday, Izo-Blok signed a deal with SSW Industries GmbH to acquire a 100 percent stake in SSW PearlFoam GmbH for € 21.5 million. The transaction price will be adjusted by SSW PearlFoam's net debt and cash. The company explained the decision as shareholders' desire to achieve the highest issue price, and consequently attract the largest amount for the transaction.