Brief: KWS Divests Chinese Corn Business To Joint Venture Partner Kenfeng

KWS SAAT SE & Co KgaA

31/10/2023 06:24

Oct 31 (Reuters) - Kws SAAT SE & CO KGAA  KWSG.DE :
    * KWS SAAT SE & CO. KGAA: KWS DIVESTS CHINESE CORN BUSINESS
TO
JOINT VENTURE PARTNER KENFENG WITH SIGNIFICANT POSITIVE EFFECT
ON EARNINGS
    * PROCEEDS FROM SALE AMOUNT TO A MID-DOUBLE-DIGIT MILLION
EURO
AMOUNT
    * DETAILS OF TRANSACTION AND EXACT AMOUNT OF PURCHASE PRICE
WERE
NOT DISCLOSED.
    * EXPECTS TRANSACTION TO HAVE A SIGNIFICANT POSITIVE EFFECT
ON
OPERATING PROFIT AND EARNINGS AFTER TAX IN CURRENT FINANCIAL
YEAR 2023/2024.
    * EXECUTION OF TRANSACTION IS SUBJECT TO EXECUTION OF
PURCHASE
AGREEMENTS, WHICH ARE EXPECTED TO BE SIGNED ON NOVEMBER 18,
2023, SUBJECT TO APPROVAL OF RELEVANT CHINESE AUTHORITIES AND
CORPORATE BODIES OF BEIDAHUANG GROUP CO., LTD. GROUP

Source text for Eikon:  ID:nEQbjdNZ5a 
Further company coverage:  KWSG.DE 

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