Volex PLC (AIM:VLX) has confirmed that the previously acquired Turkish business Murat Ticaret Kablo Sanayi, has surpassed the EBITDA targets outlined in its 2023 acquisition agreement.
The milestone by the Turkey-based manufacturing business triggers the first tranche of deferred consideration due to four of Murat Ticaret's former owners.
The payment will be split equally between cash and equity, €10 million in cash and 2.87 million shares priced at 25p each.