MHM Automation Limited has announced a conditional agreement to acquire Wyma Engineering Limited, a world leading manufacturer of post-harvest vegetable and fruit handling equipment, for a total potential value of $60m.
The deal will be structured with a share issue to Barclay interests, initial cash payment and an earnout of $15m over three years.
The transaction is conditional upon shareholder approval, finance and final due diligence, with settlement date targeted for April 2023.
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