Ratos AB: Ratos divests AH Industries
(Thomson Reuters ONE) -
22 December 2016
Ratos has signed an agreement to divest all of its shares, corresponding to a
holding of 70%, in the subsidiary AH Industries, a global supplier to the wind
turbine, cement and minerals industries, to Aurelius, a listed German investment
company. The enterprise value amounts to approximately DKK 240m for 100% of the
company. The divestment will result in an impairment of the company's total book
value in the fourth quarter and is therefore not estimated to generate any
considerable exit results for Ratos at closing. The investment has generated a
negative annual average return (IRR).
Ratos acquired AH Industries in 2007. In recent years, a large-scale change
initiative has been undertaken to boost the company's competitiveness and
strategic position. Considerable cost-saving measures, consolidation of
production and changes in the organisation have taken place and the company now
stands on a solid foundation. Today, the company has about 370 employees, with
annual sales of approximately DKK 812m and EBITA of approximately DKK 14m based
on the most recent 12 months as per September 2016.
"The intensive improvement measures carried out at the company mean that AH
Industries now stands on a stable platform that will allow it to grow together
with a competent organisation and robust management group. Ratos has owned AH
Industries since 2007 and we view the timing as appropriate for a new owner to
take over," says Robin Molvin, Investment Director Ratos.
An agreement has been concluded regarding the sale of all shares, which for
Ratos is equivalent to a holding of 70%. The divestment will result in an
impairment of the company's total book value in the fourth quarter and is
therefore not estimated to generate any considerable exit results for Ratos at
closing. The investment has generated a negative annual average return (IRR).
The transaction is subject to approval by the relevant authorities and is
expected to be completed during the first quarter of 2017.
For further information, please contact:
Elin Ljung, Head of Corporate Communications, Ratos, +46 8 700 17 20,
elin.ljung(at)ratos.se
Robin Molvin, Investment Director Ratos, +46 8 700 17 00, robin.molvin(at)ratos.se
Helene Gustafsson, IR Manager Ratos, +46 70 868 40 50,
helene.gustafsson(at)ratos.se
Financial calendar from Ratos:
Year-end report 2016 17 February 2017
Interim report January-March 2017 8 May 2017
Interim report January-June 2017 17 August 2017
Interim report January-September 2017 14 November 2017
Ratos is an investment company that owns and develops unlisted medium-sized
companies in the Nordic countries. Our goal as an active owner is to contribute
to long-term and sustainable business development in the companies we invest in
and to make value-generating transactions. Ratos's portfolio consists of 19
medium-sized Nordic companies and the largest segments in terms of sales are
Consumer goods/Commerce, Construction and Industrials. Ratos is listed on Nasdaq
Stockholm and has a total of approximately 15,400 employees.
(Press release):
http://hugin.info/1180/R/2067386/776269.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ratos via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 22.12.2016 - 15:15 Uhr
Sprache: Deutsch
News-ID 514548
Anzahl Zeichen: 3929
contact information:
Town:
Stockholm
Kategorie:
Business News
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