Brief: Cloetta to divest its Italian operations

Cloetta AB

06/07/2017 07:30

July 6 (Reuters) - CLOETTA AB  CLOEb.ST  
    * CLOETTA TO DIVEST ITS ITALIAN OPERATIONS 
    * CLOETTA AB SAYS SALE EQUALS AN ENTERPRISE VALUE (EV) OF 
APPROXIMATELY SEK 450M. PROCEEDS WILL GENERATE A POSITIVE NET 
CASH EFFECT OF APPROXIMATELY SEK 415M. 
    * DIVESTMENT WILL RESULT IN AN IMPAIRMENT ESTIMATED TO 
APPROXIMATELY SEK 365M BEFORE TAX THAT WILL BE REPORTED IN Q2 OF 
2017. 
    * TRANSACTION IS NOT SUBJECT TO REGULATORY APPROVALS AND IS 
EXPECTED TO CLOSE IN Q3 OF 2017 
    * TRANSACTION  IS EXPECTED TO CLOSE IN Q3 OF 2017. 
 
Source text for Eikon:  ID:nWkrc39NCQ  
Further company coverage:  CLOEb.ST  
 
 (Gdynia Newsroom) 
 ((Gdynia.newsroom@thomsonreuters.com;))