News: PSI PSC Insurance Group To Buy Broking Business Of Griffiths Goodall Insurance Brokers

July 9 (Reuters) - PSC Insurance Group Ltd (PSI) :

• HAS ENTERED INTO A BINDING AGREEMENT TO ACQUIRE BROKING BUSINESS OF GRIFFITHS GOODALL INSURANCE BROKERS
• PURCHASE PRICE IS $48.0 MILLION
• GGIB ACQUISITION IS EXPECTED TO GENERATE AN INCREMENTAL EBITDA OF MORE THAN $5.5 MILLION PER ANNUM.
• ACQUISITION WILL BE EARNINGS PER SHARE ACCRETIVE, EXPECTED PRO-FORMA INCREASE IN GROUP EPS OF ABOUT 10%
• GGIB KEY MANAGEMENT WILL CONTINUE MANAGING DAY-DAY BUSINESS OPERATIONS; ALL STAFF WILL BE OFFERED NEW EMPLOYMENT AGREEMENTS WITH CO