Brief: Arbonia Sells Windows Business, Strengthens Divisions

Arbonia AG

05/01/2021 05:58

Jan 5 (Reuters) - ARBONIA AG  ARBNO.S :
    * SELLS WINDOWS BUSINESS AND STRENGTHENS REMAINING DIVISIONS
    * PROCEEDS OF SALE ARE TO BE USED TO STRATEGICALLY FURTHER
DEVELOP
REMAINING DIVISIONS OF ARBONIA AND TO SUBSTANTIALLY STRENGTHEN
THEM BOTH ORGANICALLY AND THROUGH ACQUISITIONS
    * BOARD OF DIRECTORS IS CONSIDERING CAPITAL MEASURES
    * HAS DECIDED TO ACCEPT AN OFFER FROM DANISH DOVISTA GROUP
TO SELL
ITS WINDOW BUSINESS
    * EXISTING BRANDS DOBROPLAST, EGOKIEFER, SLOVAKTUAL, AND
WERTBAU
ARE LEADING WINDOW BRANDS AND WILL BE RETAINED AND EXPANDED
FURTHER
    * EMPLOYMENT CONTRACTS OF APPROXIMATELY 2500 EMPLOYEES WILL
BE
TRANSFERRED UNCHANGED
    * CLOSING OF CONTRACT IS EXPECTED IN Q2 OF 2021
    * INFLOW OF FUNDS RESULTING FROM TRANSACTION, AS WELL AS
ASSUMPTION OF FINANCIAL DEBT BY BUYER, WILL AMOUNT TO
APPROXIMATELY CHF 350 MILLION

Source text for Eikon:  ID:nEQb0GtgGa 
Further company coverage:  ARBNO.S 

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