Brief: Elanders Unit Divests 51 Pct In Temporary Workers Agency To Adecco Group Deutschland

Elanders AB

28/11/2018 09:03

Nov 28 (Reuters) - Elanders AB  ELANb.ST :
    * SAYS ITS UNIT LGI ENTERS INTO A STRATEGIC PARTNERSHIP WITH ADECCO AND DIVESTS 51% OF THE
SHARES
IN ITS TEMPORARY WORKERS AGENCY
    * COMPANY LOGWORKS GMBH WILL BE OPERATED AS A JOINT VENTURE IN FUTURE
    * FOR MAJORITY OF APPROXIMATELY 500 EMPLOYEES, NOTHING WILL CHANGE IN COURSE OF JOINT
VENTURE'S
DAY-TO-DAY BUSINESS
    * TRANSACTION WILL HAVE A MINOR POSITIVE EFFECT ON RESULT AND CASH FLOW AND ONLY A MINOR
EFFECT ON
NET SALES
    * TRANSACTION IS SUBJECT TO APPROVAL BY GERMAN FEDERAL CARTEL OFFICE AND IS EXPECTED TO BE
COMPLETED IN Q4 2018

Source text for Eikon:  ID:nGNE2H1Wyz 
Further company coverage:  ELANb.ST 

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