Brief: Semperit Holding and Sri Trang: demerger of the JV Siam Sempermed
18/01/2017 11:02
Jan 18 (Reuters) - Semperit Holding AG SMPV.VI :
* Semperit AG Holding and Sri Trang sign an agreement on the demerger of the joint venture
Siam Sempermed
* Significant one-time accounting effects in 2016/2017
* Semperit will take over the joint Sempermed distribution company in the USA as well as
production companies of the Industrial Sector in China
* Sri Trang will take over the joint glove production in Thailand
* The Semperflex joint venture in Thailand will be continued
* Semperit will receive a compensation payment amounting to $167.5 million (about 157
million euros) before taxes
* Together with the demerger, there will be a settlement of the arbitration proceedings and
the legal disputes by mutual agreement
* There will be negative special effects of about 30 million to 40 million euros ($32.03
million - $42.71 million) in the consolidated financial statement of 2016
* There will be positive special effects of about 100 million to 115 million euros at
closing in 2017
* Closing of the transaction is expected for march 2017
Source text - http://bit.ly/2iAtsih
Further company coverage: SMPV.VI
($1 = 0.9365 euros)
(Gdynia Newsroom)
((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))