Brief: Kloeckner Intends To Sell Parts Of Its European Commodity Distribution Business

Kloeckner & Co SE

22/12/2023 07:42

Dec 22 (Reuters) - KLOECKNER & CO SE  KCOGn.DE :
    * KLÖCKNER & CO SE: KLÖCKNER CO INTENDS TO SELL FOUR
EUROPEAN
COUNTRY ORGANIZATIONS TO STRENGTHEN FOCUS ON HIGHER VALUE-ADDED
BUSINESS AND STREAMLINE PORTFOLIO
    * PROPOSED TRANSACTION IS EXPECTED TO HAVE A CONSIDERABLY
POSITIVE
IMPACT ON GROUP EBITDA BEFORE MATERIAL SPECIAL EFFECTS FROM
FINANCIAL YEAR 2024 ONWARDS
    * EXPECTS A ONE-TIME NEGATIVE EFFECT ON GROUP EQUITY OF
AROUND EUR
210 MILLION BASED ON CURRENT EQUITY OF ORGANIZATIONS AND FURTHER
DECONSOLIDATION EFFECTS
    * PROPOSED TRANSACTION IS SUBJECT TO INFORMATION AND
CONSULTATION
PROCEDURES WITH RELEVANT EMPLOYEE REPRESENTATIVE BODIES, AS WELL
AS CUSTOMARY REGULATORY APPROVALS AND CLOSING CONDITIONS
    * CLOSING, AFTER AN ACCEPTANCE OF IRREVOCABLE OFFER, IS
EXPECTED
TO TAKE PLACE IN FIRST HALF OF 2024
    * EQUITY RATIO OF REMAINING GROUP IS EXPECTED TO INCREASE TO
APPROXIMATELY 51%

Source text for Eikon:  ID:nEQ23GQjDa 
Further company coverage:  KCOGn.DE 

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