Brief: Corticeira Amorim's Unit Sells Its Timberman Denmark Stake To Salix Group

Volati AB

11/12/2024 16:22

Dec 11 (Reuters) - Corticeira Amorim SGPS SA  CORA.LS :
    * AMORIM CORK FLOORING SELLS ENTIRE NET STAKE IN TIMBERMAN
DENMARK
TO SALIX GROUP
    * DEAL FOR 23.7 MILLION EUROS
    * THIS TRANSACTION GENERATES AN ESTIMATED GAIN OF AROUND 14
MILLION EUROS IN CORTICEIRA AMORIM'S CONSOLIDATED ACCOUNTS
    * TIMBERMAN DENMARK AND AMORIM CORK SWEDEN REMAIN
DISTRIBUTORS OF
ACF'S FLOORING PRODUCTS IN DENMARK AND SWEDEN
    * THIS CHANGE OCCURS IN PARALLEL WITH LAUNCH, IN 2025, OF
NEW UNIT
AMORIM CORK SOLUTIONS, WHICH WILL BE PART OF AMORIM CORK
COMPOSITES

Source text: https://tinyurl.com/mtef5726
Further company coverage:  CORA.LS 

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