Brief: Bonava Says Divests Operations In St. Petersburg

Bonava AB (publ)

07/10/2022 17:34

Oct 7 (Reuters) - Bonava AB (publ)  BONAVb.ST :
    * BONAVA DIVESTS OPERATIONS IN ST. PETERSBURG
    * AGREEMENT TO DIVEST BONAVA'S SUBSIDIARIES IN RUSSIA FOR A
PURCHASE PRICE OF APPROXIMATELY EUR 98 M (SEK 1.1 BN)
    * ST. PETERSBURG OPERATIONS WILL BE REPORTED AS DISCONTINUED
OPERATIONS FROM Q3 2022
    * NET FINANCIAL IMPACT AMOUNTS TO ABOUT SEK -0.1 TO -0.3 BN,
WILL
BE RECOGNISED WHEN DEAL IS FINALISED WHICH IS EXPECTED TO BE
WITHIN 6 MONTHS
    * DECISION TO LEAVE RUSSIA WAS MADE IN LIGHT OF GEOPOLITICAL
SITUATION
    * BONAVA HAS SIGNED A SALES AGREEMENT WITH G-GROUP
    * TRANSACTION IS EXPECTED TO BE FINALISED WITHIN SIX MONTHS
AND
ALL OF BONAVA'S OPERATIONS IN RUSSIA WILL CEASE THEREAFTER
    * DEAL CONTINGENT ON PERMITS FROM AUTHORITIES,  BANK
APPROVAL IN
RESPECT OF BUYER RELEASING CO IN FULL FROM GUARANTEES AMOUNTING
TO RUB 5.2 BN

Source text for Eikon:  ID:nWkr5q2mtT 
Further company coverage:  BONAVb.ST 
 ((Reuters.Briefs@thomsonreuters.com;))