Brief: Intek Group To Sell Two Units To Zhejiang Hailiang

KME SpA

28/01/2019 07:16

Jan 28 (Reuters) - Intek Group SpA  IKG.MI :
    * UNIT SELLS EUROPEAN BUSINESS OF BRASS BARS AND TUBE BUSINESS IN GERMANY AND SPAIN
    * HAS SOLD THE TWO UNITS TO ZHEJIANG HAILIANG CO
    * AGREED PRICE IS €119 MILLION PLUS WORKING CAPITAL AND REIMBURSEMENT OF PAYABLES
OUTSTANDING AT
CLOSING
    * CLOSING OF TRANSACTION IS EXPECTED TO BE EXECUTED WITHIN THE FIRST QUARTER 2019
    * HAILIANG HAS ALSO MADE A BINDING OFFER FOR THE ACQUISITION OF KME BRASS FRANCE

Source text for Eikon:  ID:nBIA59SCN0 
Further company coverage:  IKG.MI 

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