Brief: TKH Group Divests Zhangjiagang Twentsche Cable In China

TKH

14/11/2019 11:39

Nov 14 (Reuters) - TKH GROUP NV  TWKNc.AS :
    * ANNOUNCES THAT IT REACHED AGREEMENT WITH SHANGHAI ELECTRIC
GROUP
COMPANY LTD IN SHANGHAI (CHINA)
    * AGREEMENT ABOUT TAKEOVER OF 95% OF SHARES OF ZHANGJIAGANG
TWENTSCHE CABLE CO. LTD.  IN ZHANGJIAGANG , AND REMAINING 5% BY
KEY MANAGEMENT OF ZTC
    * TRANSACTION IS EXPECTED TO BE CLOSED WITHIN COMING FOUR
MONTHS
AND WILL RESULT IN ONE OFF NET PROFIT CONTRIBUTION OF EUR 3
MILLION
    * ACTIVITIES TO BE DIVESTED FOR ENTERPRISE VALUE OF EUR 31
MILLION

Source text for Eikon:  ID:nNDLbxxtsb 
Further company coverage:  TWKNc.AS 

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