Brief: Rizzo Group Divests Rizzo International Unit For SEK 47 Mln

Rizzo AB

12/05/2022 13:30

May 12 (Reuters) - Rizzo Group AB  RIZZOb.ST :
    * DIVESTS ITS WHOLLY OWNED SUBSIDIARY RIZZO INTERNATIONAL AB
    * PURCHASE PRICE SEK 47 MILLION
    * BUYER IS GOLDCUP 30644 AB, A NEWLY ESTABLISHED ENTITY
OWNED BY
FORSPRO AKTIEBOLAG
    * SHARES WILL BE TRANSFERRED TO PURCHASER ON CLOSING DATE
TODAY,
MAY 12, FOR PURCHASE PRICE OF SEK 47 MILLION, OF WHICH SEK 25
MILLION IN CASH AND SEK 22 MILLION THROUGH ISSUANCE OF DEBT
SECURITIES WITH A MATURITY OF 18 MONTHS
    * RIZZO INTERNATIONAL'S WHOLLY OWNED SUBSIDIARIES RIZZO AS
AND
RIZZO OY WILL EXCLUDED FROM TRANSACTION AND TRANSFERRED TO RIZZO
GROUP AS PART OF TRANSACTION
    * WILL, FOLLOWING TRANSACTION, FOCUS ON SALES OF BAGS AND
ACCESSORIES, WHICH ACCORDING TO BOARD OF RIZZO GROUP IS EXPECTED
TO REDUCE CO'S COSTS BY APPROXIMATELY SEK 35 MILLION OVER ON AN
ANNUAL BASIS

Source text for Eikon:  ID:nWkr3n2y3w 
Further company coverage:  RIZZOb.ST 

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