August 2, 2016 / 11:59 AM / a year ago

BRIEF-Spin Master buys Swimways Corp

Aug 2 (Reuters) - Spin Master Corp :

* Purchase price includes up to US$8.5 million payable over 4 years based on Swimways’ sales growth

* Spin Master Corp says transaction was financed through spin master’s existing credit facility

* Purchase price for transaction will be satisfied by US$85 million in cash on closing, less an escrow for possible adjustments

* Spin master corp says purchase price for transaction will be satisfied by US$85 million in cash on closing

* Spin Master Corp says Swimways will operate as a stand -alone subsidiary within Spin Master group

* Announces acquisition of Swimways Corporation and establishment of outdoor business segment Source text for Eikon: Further company coverage: (Bengaluru Newsroom : +1-646-223-8780)

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