Wednesday December 24,2014 : INTERTAIN FINALISES VERA&JOHN ACQUISITION (Update)

Dumarca Holdings changes hands

The Intertain Group has completed the acquisition of the entire share capital of Dumarca Holdings PLC, the Malta-based parent company of Vera and John

Intertain have made an initial cash payment of Euro 44.5 million and around 5 million common Intertain shares.

A further payment capped at Euro 8.1 million may be due based on Vera&John generating EBITDA that exceeds pre-defined thresholds in 2015 and 2016.

Dan Anderson, director of Dumarca Holdings PLC, said in a statement Tuesday: "We have formed a great team within Vera&John, and look forward to leveraging our abilities to drive revenue synergies across the group and increase the value of our material share ownership."