Recticel to divest its bedding activities, shares rise

Recticel SA

18/11/2021 08:47

** Shares in Belgian plastics company Recticel  RECT.BR 
rise 3.9% after it agrees to sell its bedding business line to 
Aquinos Group
    ** The segment will be sold to the Portuguese
privately-owned group for an enterprise value of EUR 122.4
million ($138.70 million) by Q1 2022, Recticel said  urn:newsml:reuters.com:*:nFWN2S81B7
    ** "The sale of the bedding activities was long awaited and
the price tag is slightly lower than our EUR 126.1 million
forecast," KBC Securities points out in a note
    ** The company also flagged the net proceeds after
transaction costs were expected to amount to EUR 97 million 
    ** The stock of Recticel is up by over 50% year-to-date

($1 = 0.8825 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))