Brief: Viva Wine Group Scales Down Presence In China

Viva Wine AB

01/06/2022 13:05

June 1 (Reuters) - Viva Wine Group AB  VIVA.ST :
    * VIVA WINE GROUP SCALES DOWN PRESENCE IN CHINA
    * SELLS 81 % OF SHARES IN VIVA GLOBAL AB ("VIVA CHINA"), TO
VIN
OCH VIND AB ("VIN OCH VIND"), A CO RELATED TO VIVA WINE GROUP
    * TRANSACTION WILL BE COMPLETED ON 1 JUNE 2022
    * VALUE OF TRANSACTION IS LESS THAN 1 PERCENT OF VIVA WINE
GROUP
MARKET VALUE AND WILL BE COMPLETED ON JUNE 1, 2022
    * SALES OF VIVA CHINA AMOUNTED TO SEK 7 MILLION WITH EBIT
SEK -1
MILLION IN Q1 2022 AND ARE REPORTED AS PART OF BUSINESS SEGMENT
OTHER
    * DEAL IS PART OF VIVA WINE GROUP'S STRATEGY TO FOCUS ON ITS
CORE
BUSINESS WITH A FOCUS ON GROWTH IN NORDIC MONOPOLY MARKETS AND
IN EUROPEAN E-COMMERCE FOR WINE

Source text for Eikon:  ID:nMFN5vhgzs 
Further company coverage:  VIVA.ST 

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