Brief: Recticel Completes Divestment Of Its Engineered Foams Activities

Recticel SA

14/06/2023 06:08

June 14 (Reuters) - Recticel NV  RECT.BR :
    * RECTICEL BECOMES A PURE INSULATION PLAYER AFTER COMPLETING
DIVESTMENT OF ITS ENGINEERED FOAMS ACTIVITIES ON 12 AND 13 JUNE
2023
    * REVISED ENTERPRISE VALUE OF EUR 454.1 MILLION
    * CHANGES IN TRANSACTION PERIMETER: RECTICEL KEEPS SOUNDCOAT
COMPANY INC. (USA - ACOUSTIC AND THERMAL INSULATION) AND ITS 33%
PARTICIPATION IN ORSA FOAM S.P.A. (ITALY)
    * THE TRANSACTION REPRESENTS A 7.5 X MULTIPLE ON THE AVERAGE
2021
AND 2022 ADJUSTED EBITDA PERTAINING TO THE DIVESTED PERIMETER
    * CASH PROCEEDS OF EUR 427.0 MILLIO
    * REDUCTION OF IFRS16 LEASE DEBT BY EUR 23.9 MILLION, AND
REDUCTION OF OTHER PROVISIONS AND LIABILITIES BY EUR 30.6
MILLION

Source text for Eikon:  ID:nNDL7J2DLG 
Further company coverage:  RECT.BR 

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