Fedrigoni S.p.A. made an offer to acquire Arjo Wiggins Ltda. from Sequana S.A. (DB:WM41) for an enterprise value of 85 million on April 28, 2015. Fedrigoni will pay an additional earn-out of up to 5 million based on performance criteria and is payable in 2016.
In 2014, Arjo Wiggins reported revenues of around 70 million. Evercore Partners Inc. acted as financial advisor to Sequana. The transaction should be finalized by the end of May 2015.