Brief: Momentum Group Divests Gigant

Alligo AB

05/10/2021 14:31

Oct 5 (Reuters) - Momentum Group AB  MMGRb.ST :
    * MOMENTUM GROUP DIVESTS GIGANT
    * MOMENTUM GROUP DIVESTS GIGANT
    * ALLIGO, A BUSINESS AREA OF MOMENTUM GROUP, HAS SIGNED AN
AGREEMENT TO SELL 100 PERCENT OF SHARES IN GIGANT AB AND ITS
SUBSIDIARIES.
    * DIVESTED OPERATIONS HAD A TURNOVER OF AROUND SEK 230
MILLION IN
2020.
    * TRANSACTION IS EXPECTED TO CLOSE IN BEGINNING OF NOVEMBER
AND
WILL HAVE A MARGINAL NEGATIVE IMPACT ON MOMENTUM GROUP'S
EARNINGS.
    * GIGANT IS ACQUIRED BY AXEL LINDGREN AB, A LONG-TERM
INVESTOR IN
SMALL AND MEDIUM-SIZED INDUSTRIAL BUSINESSES.

Source text for Eikon:  ID:nWkrbF0BX3 
Further company coverage:  MMGRb.ST 

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