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Investing.com -- Rosebank Industries, a British investment firm, announced on Friday its plan to raise approximately 1.14 billion pounds ($1.55 billion) for the purpose of financing its acquisition of U.S.-based Electrical Components International (ECI).
Rosebank Industries, known for its business strategy of acquiring, improving, and eventually selling businesses, had resumed negotiations to purchase ECI earlier this week.
The acquisition is projected to cost under $1.9 billion.
On Friday, the British firm confirmed the deal value, which is set at less than $1.9 billion.
The funding for this acquisition will be sourced through debt facilities and a fully underwritten institutional capital raise, with each unit priced at 3 pounds.
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