Brief: TKH To Divest Connectivity Activities in France

TKH

31/05/2023 07:09

May 31 (Reuters) - TKH GROUP  TWKNc.AS  TO DIVEST
CONNECTIVITY ACTIVITIES IN FRANCE:
    * TKH FRANCE WILL BE DIVESTED FOR AN ENTERPRISE VALUE OF
€118
MILLION
    * THE TRANSACTION IS EXPECTED TO CLOSE IN Q3 2023, SUBJECT
TO THE
CUSTOMARY EMPLOYEE INFORMATION AND CONSULTATION PROCEDURES IN
FRANCE AS WELL AS NECESSARY REGULATORY ANTITRUST FILINGS
    * THE DIVESTMENT OF TKH FRANCE FITS WITHIN TKH’S STRATEGY OF
FOCUSING ON PROPRIETARY SMART TECHNOLOGIES
    * UPON CLOSING, TKH IS EXPECTING A ONE-OFF NET PROFIT
CONTRIBUTION
OF ABOUT €20 MILLION
    * UNDER THE TERMS OF THE AGREEMENT, TKH WILL INVEST €26.5
MILLION
IN SCS WITYU TO ACQUIRE A MINORITY STAKE OF 40%

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nNDL2Gl1tk
 Further company coverage:  TWKNc.AS  

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