Brief: Apetit To Divest Its Fresh Cut Products Business Operations

Apetit Oyj

10/07/2019 08:46

July 10 (Reuters) - Apetit Oyj  APETIT.HE :
    * APETIT TO DIVEST ITS FRESH CUT PRODUCTS BUSINESS
OPERATIONS
    * HAS SIGNED AN AGREEMENT ON SELLING ITS FRESH CUT PRODUCTS
BUSINESS OPERATIONS TO SWEDISH COMPANY GREENFOOD AB
    * APETIT WILL RECOGNISE A NON-RECURRING SALES GAIN OF AROUND
EUR 2
MILLION AFTER TAXES FOR CORPORATE TRANSACTION IN SECOND HALF OF
2019
    * ARRANGEMENT WILL BE CARRIED OUT AS A BUSINESS TRANSFER
THAT
COVERS APETIT'S PLANT PROPERTY IN KIVIKKO IN HELSINKI, INCLUDING
MACHINERY AND EQUIPMENT.
    * APETIT'S NET SALES FROM FRESH CUT PRODUCTS BUSINESS
OPERATIONS
TOTALLED EUR 23.2 MILLION IN 2018 AND IT HAS 120 EMPLOYEES.
    * CORPORATE TRANSACTION IS EXPECTED TO HAVE A POSITIVE
EFFECT ON
APETIT'S FULL-YEAR OPERATIONAL EBIT.
    * TRANSACTION IS EXPECTED TO BE COMPLETED IN SECOND HALF OF
2019.

Source text for Eikon:  ID:nWkr9lzsjq 
Further company coverage:  APETIT.HE 

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