Brief: Anora To Sell Its Larsen Cognac Business To International Beverage

Anora Oyj

06/09/2023 13:32

Sept 6 (Reuters) - Anora Group Oyj  ANORA.HE :
    * INSIDE INFORMATION: ANORA TO SELL ITS LARSEN COGNAC
BUSINESS TO
INTERNATIONAL BEVERAGE
    * WILL CONTINUE AS EXCLUSIVE DISTRIBUTOR OF LARSEN, RENAULT,
MONOPOL AND IBIS PRODUCTS IN NORDICS AND BALTICS, INCLUDING DUTY
FREE AND TRAVEL RETAIL
    * DIVESTMENT INCLUDES BRANDS LARSEN, RENAULT, MONOPOL, IBIS
AND
PRODUCTION SITE, EAUX-DE-VIE MATURATION STOCK IN COGNAC, FRANCE
    * AGREED SALES PRICE IS 54.1 MEUR AND IT WILL BE PAID IN
FULL AT
CLOSING OF TRANSACTION
    * TRANSACTION WILL HAVE ANNUAL NEGATIVE IMPACTS OF
APPROXIMATELY 6
MEUR ON ANORA'S NET SALES
    * PROCEEDS OF SALE WILL LEAD TO A ONE-TIME GAIN OF
APPROXIMATELY 8
MEUR
    * TRANSACTION TO HAVE NEGATIVE IMPACT OF 2 MEUR ON
COMPARABLE
EBITDA
    * GUIDANCE PUBLISHED ON 15 AUGUST WILL REMAIN SAME

Source text for Eikon:  ID:nWkr18Y93 
Further company coverage:  ANORA.HE 

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