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DPA Flex Group (DPAFX:AEX), the specialist staffing solutions provider, has signed a letter of intent to acquire 100% of the outstanding stock of WR Leading in Finance, the financial and accounting services agency.
The transaction price amounts to 7.34 million shares and 11.4 million Euro in cash.
DPA further announced that it has issued a total of 16.4 million Euro of which 11.4 million Euro were issued through a private placement in project Holland Fonds and will be used to finance the cash part of the WR acquisition. All shares were issued at 2.85 Euro per share.
After the acquisition of WR, Jan van Duijn, DPA Chief Financial Officer will resign from his position on March 2010.