Kesko completes the disposal of its K-maatalous business to Lantmännen
(Thomson Reuters ONE) -
KESKO PRESS RELEASE 01.06.2017 AT 15.22 1(1)
Kesko Corporation has sold its K-maatalous business to Swedish Lantmännen ek
för. The debt free price of the sale, structured as a share transaction, was
?38.5 million.
Kesko's strategic objective is to achieve growth in the Finnish grocery trade,
the building and technical trade and the car trade.
In 2016, the net sales of the K-maatalous business operations were ?334 million
and the operating profit was ?5.3 million. The debt free price of the sale,
structured as a share transaction, was ?38.5 million and was paid in cash upon
completion of the transaction. Kesko Corporation will record a profit of
approximately ?13 million on the disposal in the second quarter financial
results for 2017. K-maatalous stores will continue operating under the retailer
business model with Lantmännen.
On 11 April 2017, Kesko Corporation announced that it will sell its K-maatalous
business in a stock exchange release. On 26 May 2017, the Finnish Competition
and Consumer Authority (FCCA) announced that it will approve the disposal. The
approval will not be subject to any conditions.
The disposal will not have an impact on Kesko Group's outlook.
Further information:
Investors and analysts: Kia Aejmelaeus, VP, Investor Relations, tel.
+358 105 322 533, kia.aejmelaeus(at)kesko.fi
Media: Riikka Toivonen, Head of Financial Communications, tel.
+358 105 323 495, riikka.toivonen(at)kesko.fi
Kesko Corporation
DISTRIBUTION
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www.kesko.fi
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: Kesko Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 01.06.2017 - 14:23 Uhr
Sprache: Deutsch
News-ID 545827
Anzahl Zeichen: 2143
contact information:
Town:
Kesko
Kategorie:
Business News
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"Kesko completes the disposal of its K-maatalous business to Lantmännen"
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Kesko Oyj (Nachricht senden)
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