MILAN (AIMnews.it) - Glenalta has found its own company target. This is the CFT group, which designs and manufactures machinery, complete lines and turnkey systems, mainly for the Food & Beverage industry. Headquartered in Parma, it operates all over the world and is present directly in nine countries beyond Italy: about 90% of turnover is generated abroad. Cft has been assigned an equity value of € 96.5 million, thus valuing the company at approximately 6.2 times the EV / EBITDA multiple. In 2017 Glenalta will recognise 10.4% of the share capital of CFT (sold by the current shareholders) with a disbursement of 10 million, while the remaining 88 million will be used to finance the development of the group, which will include acquisitions. The post-merger free float will be 51.5%, when the right of withdrawal is not exercised by any of the Glenalta shareholders. At the effective date of the merger - expected by the end of July - 3 warrants will be assigned for every 10 ordinary shares in circulation.