StockMarketWire.com - Bathroom and kitchen product supplier Norcros said its South African unit had agreed to acquire RAP Plumbing Supplies for up to 215m rand (£12.1m).

The deal with the target's directors, employees and other private investors remained subject to South African antitrust approval.

An initial payment of 172m rand would be settled on completion, with the rest payable in two years via an earn-out mechanism.

At 2:16pm: [LON:NXR] Norcros PLC share price was +0.5p at 195.5p



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