Brief: TKH Group Divests Majority Of Industrial Connectivity Activities

TKH

16/07/2019 07:07

July 16 (Reuters) - TKH GROUP NV  TWKNc.AS :
    * TKH DIVESTS MAJORITY OF INDUSTRIAL CONNECTIVITY ACTIVITIES
    * CREATION OF A NEWCO THAT WILL TAKE OVER THE SHARES OF A
MAJOR
PART OF THE TKH INDUSTRIAL CONNECTIVITY ACTIVITIES
    * ACTIVITIES WILL BE DIVESTED FOR AN ENTERPRISE VALUE OF €
113
MILLION
    * TKH WILL INVEST IN NEWCO FOR € 17 MILLION TO ACQUIRE A
MINORITY
STAKE OF 44%
    * CREATION OF A NEWCO IN AGREEMENT WITH TORQX CAPITAL
PARTNERS
    * THE TRANSACTION IS EXPECTED TO BE CLOSED IN THE THIRD
QUARTER OF
2019 AND WILL RESULT IN A ONE OFF NET PROFIT CONTRIBUTION OF AT
LEAST € 30 MILLION

Source text: https://bit.ly/2Y7jmJE
Further company coverage:  TWKNc.AS 

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