Brief: Recticel Enters Into Binding Agreement With Aquinos Group On Divestment Of Its Bedding Business Line

Recticel SA

18/11/2021 06:20

Nov 18 (Reuters) - RECTICEL NV  RECT.BR :
    * ENTERS INTO BINDING AGREEMENT WITH AQUINOS GROUP ON
DIVESTMENT
OF ITS BEDDING BUSINESS LINE
    * CASH CONSIDERATION BASED ON AN ENTERPRISE VALUE OF EUR
122.4
MILLION ON A CASH AND DEBT FREE BASIS
    * TRANSACTION SUBJECT TO SHAREHOLDER APPROVAL AND CUSTOMARY
CLOSING CONDITIONS AND CONSULTATIONS
    * NET PROCEEDS AFTER TRANSACTION COSTS ARE EXPECTED TO
AMOUNT TO
EUR 97 MILLION SUBJECT TO CLOSING ADJUSTMENTS
    * TRANSACTION IS EXPECTED TO BE CLOSED IN Q1 OF 2022
    * EUR 17.9 MILLION IFRS 16 LIABILITIES WILL BE TRANSFERRED
AS WELL
    * THE PROCEEDS OF THE SALE WILL BE USED TO REDUCE
OUTSTANDING DEBT
    * COMPAGNIE DU BOIS SAUVAGE SUPPORTS THE DIVESTMENT AND WILL
APPROVE IT AT THE SPECIAL GENERAL MEETING OF SHAREHOLDERS

Source text for Eikon:  ID:nNDL6T7ght 
Further company coverage:  RECT.BR 

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