Brief: Recticel Clarifies Its Strategic Intent On Sale Of Engineered Foams Business

Recticel SA

15/10/2021 17:25

Oct 15 (Reuters) - Recticel NV  RECT.BR :
    * CLARIFICATION WITH REGARD TO RECTICEL'S STRATEGIC INTENT
    * CASH CONSIDERATION OF CARPENTER'S OFFER FOR ENGINEERED
FOAMS
BUSINESS IS BASED ON AN ENTERPRISE VALUE OF EUR 656 MILLION
    * DIVESTMENT PROCESS OF BEDDING BUSINESS IS ON TRACK AND IN
LINE
WITH PREVIOUSLY COMMUNICATED SCHEDULE, I.E. A SIGNING IN 4Q2021
AND A CLOSING IN 1Q2022
    * EXPECTS TO PUBLISH IN DUE COURSE ITS RESPONSE MEMORANDUM
WHICH
WILL DESCRIBE VIEW OF BOARD OF DIRECTORS OF RECTICEL ON
PROSPECTUS OF GREINER, INCLUDING ON OFFER PRICE
    * IMPLIED VALUE OF INSULATION BUSINESS IN GREINER'S OFFER
AMOUNTS
TO ONLY EUR 411 MILLION
    * GREINER'S OFFER SUBSTANTIALLY UNDERVALUES RECTICEL'S
INSULATION
BUSINESS

Source text for Eikon:  ID:nNDL6dwmgB 
Further company coverage:  RECT.BR 

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