Brief: Panostaja Sells KotiSun Group To Fund Managed By CapMan

Panostaja Oyj

19/12/2017 11:15

Dec 19 (Reuters) - PANOSTAJA OYJ  PNA1V.HE : 
    * PANOSTAJA SELLS KOTISUN GROUP TO FUND MANAGED BY CAPMAN 
 CAPMAN.HE  
    * - KOTISUN GROUP'S MANAGEMENT WILL CONTINUE AS A MINORITY 
SHAREHOLDER IN COMPANY WITH THEIR SHARE OF 30% 
    * - TO SELL ENTIRE SHARE CAPITAL OF KOTISUN GROUP OY TO 
CAPMAN 
BUYOUT X FUND MANAGED BY CAPMAN 
    * ONCE DEAL HAS BEEN COMPLETED, PANOSTAJA GROUP WILL RECORD 
ABOUT 
MEUR 33 IN SALES PROFIT BEFORE TAXES. 
    * - TOTAL DEBT-FREE SALE PRICE OF SHARES SOLD IS ESTIMATED 
TO BE 
EUR 88 MILLION 
    * PANOSTAJA - ITS SHARE AFTER DEDUCTION OF INTEREST-BEARING 
NET 
LIABILITIES AND COSTS RELATED TO SALE WILL BE ABOUT EUR 40.7 
MILLION 
    * PARTIES INVOLVED IN TRANSACTION ARE EXPECTING DEAL TO BE 
FINALIZED BY JANUARY 31, 2018 
 
Source text for Eikon:  ID:nHSU7h4C  
Further company coverage:  PNA1V.HE  
 
 (Gdynia Newsroom) 
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