Brief: Compagnie Du Bois Sauvage To Vote Against Sale Of Recticel's Engineered Foams Division

Recticel SA

29/11/2021 16:54

Nov 29 (Reuters) - Compagnie du Bois Sauvage SA  CBOS.BR :
    * SALES OF RECTICEL DIVISIONS: COMPAGNIE DU BOIS SAUVAGE TO
VOTE
AGAINST THE SALE OF THE ENGINEERED FOAMS DIVISION AND FOR THE
SALE OF THE BEDDING DIVISION
    * COMPAGNIE DU BOIS SAUVAGE HELD 27.03% OF RECTICEL’S SHARES
AND
VOTING RIGHTS AS OF MID-MAY 2021
    * IS OF THE OPINION THAT A SALE OF THE ENGINEERED FOAMS
DIVISION
IS NOT APPROPRIATE AT THIS TIME AND UNDER THE CONDITIONS
PRESENTED
    * WITH REGARD TO SALE OF "ENGINEERED FOAMS" DIVISION, THE
BOARD
NOTES THAT THE SALE AGREEMENT IS STILL DEPENDENT ON DUE
DILIGENCE AND APPROVAL OF THE COMPETITION AUTHORITIES
    * AT THIS TIME COMPAGNIE DU BOIS SAUVAGE CONCLUDED AN
AGREEMENT
WITH GREINER FOR THE SALE OF ITS SHARES IN RECTICEL
    * UNTIL DATE OF IMPLEMENTATION OF STAKE SALE AGREEMENT,
COMPAGNIE
DU BOIS SAUVAGE CONTINUES TO ACT AS REFERENCE SHAREHOLDER

Source text: https://bit.ly/3Iee6bw
Further company coverage:  CBOS.BR 

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