James Hardie To Buy German-based XI (DL) Holdings From Xella In €473 Mln Deal

(RTTNews) - James Hardie Industries plc (JHX.AX) announced that it areed to acquire German-based XI (DL) Holdings GmbH and its subsidiaries (including, but not limited to, Fermacell GmbH) from Xella International S.A. in an all-cash transaction valued at €473 million or approximately US$549 million). The acquisition is expected to close in the fourth quarter of James Hardie's 2018 fiscal year and is subject to customary closing conditions.

James Hardie expects the transaction to be accretive in the second full fiscal year following the close. In the first full fiscal year following the close, James Hardie expects the transaction to be accretive excluding transaction, integration and other one-time costs. Fermacell will account for approximately 15 percent of total global revenue of the combined business. James Hardie intends to fund the acquisition with debt financing.