Stofa refinancing - releases about SEK 510m to Ratos
(Thomson Reuters ONE) -
Ratos has decided to refinance the subsidiary Stofa in an amount of DKK 425m
(approximately SEK 515m), whereby Ratos will receive a dividend of approximately
SEK 510m. The refinancing has been made possible by the company's favourable
development and cash flow since the acquisition.
Stofa is a Danish triple-play operator (broadband, cable TV and telephony) which
provides some 350,000 Danish households with cable TV and 40% of them with
broadband as well. The services are delivered in close co-operation with 300
antenna associations throughout Denmark. In addition, Stofa also sells to end-
user subscribers who are offered interactive TV services (pay TV), broadband and
IP telephony. In 2010 sales totalled SEK 1,411m and EBITA amounted to SEK 117m.
The company has approximately 410 employees.
Ratos's CEO, Arne Karlsson, comments "Stofa has developed extremely well since
we acquired the company one and a half years ago. The company's sales successes
within TV channels and new services have contributed to a strong cash flow and
good profitability, which has enabled us to reduce the net debt by 40% in a
short time. Continued good future prospects and stable cash flows mean that we
can carry out this refinancing and dividend while retaining an optimal capital
structure in the company."
As a result of the refinancing, approximately SEK 510m will be paid to Ratos, of
which approximately SEK 420m in January and approximately SEK 90m in March.
Ratos's consolidated book value for Stofa will be adjusted downwards by a
corresponding amount. Ratos's holding in Stofa amounts to 99%.
For further information, please contact:
Arne Karlsson, CEO, +46 70 379 79 79
Emma Rheborg, Head of Corporate Communications and IR, +46 73 380 22 63
Financial calendar from Ratos:
Year-end report 2011 16 February 2012
Annual General Meeting 18 April 2012
Interim Report January - March 2012 8 May 2012
Interim Report January - June 2012 17 August 2012
Interim Report January - September 2012 9 November 2012
Ratos is a private equity conglomerate. The company's mission is to maximise
shareholder value over time through the professional, active and responsible
exercise of its ownership role in primarily medium to large unlisted Nordic
companies. Ratos's holdings include AH Industries, Anticimex, Arcus-Gruppen,
Biolin Scientific, Bisnode, Contex, DIAB, Euromaint, Finnkino, GS-Hydro, Hafa
Bathroom Group, HL Display, Inwido, Jøtul, KVD Kvarndammen, Lindab,
Mobile Climate Control, SB Seating and Stofa. Ratos is listed on Nasdaq OMX
Stockholm and market capitalisation amounts to approximately SEK 25 billion.
Press release PDF:
http://hugin.info/1180/R/1573670/489828.PDF
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ratos via Thomson Reuters ONE
[HUG#1573670]
Unternehmensinformation / Kurzprofil:
Datum: 23.12.2011 - 09:44 Uhr
Sprache: Deutsch
News-ID 99729
Anzahl Zeichen: 3632
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Stofa refinancing - releases about SEK 510m to Ratos"
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