Brief: Storskogen Divests Skidsta Hus

Storskogen AB (publ)

23/05/2023 10:27

May 23 (Reuters) - Storskogen Group AB (publ)
 STORb.ST :
    * DIVESTS BUSINESS UNITS AS PART OF STRATEGIC REALIGNMENT
    * HAS ENTERED INTO AN AGREEMENT TO DIVEST DEXTRY GROUP
    * HAS COMPLETED DIVESTMENT OF SKIDSTA HUS AB
    * DIVESTMENTS PART OF CONTINUOUS GROUP REVIEW TO ENSURE
ALIGNMENT
WITH FINANCIAL TARGETS AND STRATEGIC OBJECTIVES
    * DIVESTED ENTITIES HAVE COMBINED NET SALES OF ABOUT SEK
1,195
MILLION, WITH EBITA OF ABOUT SEK 30 MILLION
    * DIVESTMENTS NOT EXPECTED TO HAVE SIGNIFICANT IMPACT FROM
FINANCIAL GAINS OR LOSSES
    * PROCEEDS WILL BE USED FOR REPAYMENT OF DEBT AND HENCE
CONTRIBUTE
TO LOWER LEVERAGE RATIO
    * SHARE PURCHASE AGREEMENT FOR DEXTRY SIGNED ON 22 MAY, IS
EXPECTED TO CLOSE IN Q2 OF 2023

Source text for Eikon:  ID:nWkr3B66C0 
Further company coverage:  STORb.ST 

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