EANS-Adhoc: K+S sells COMPO to investment company Triton
Closing of the
transaction, with an enterprise value of EUR 205 million for COMPO, is expected
to take place as early as this summer
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 20.06.2011 With the consent of the Supervisory Board, the Board of Executive Directors of K+S Aktiengesellschaft has decided to sell the business activities of COMPO to the European private equity investor Triton. A corresponding sales agreement was signed today. With this step, the examination of a sale of COMPO started last year has reached its conclusion. The effective economic date of the transfer is 1 March 2011. The closing of the transaction, with an enterprise value of EUR 205 million for COMPO, is expected to take place as early as this summer. After the deduction of assumed liabilities, K+S expects a cash inflow of probably about EUR 150 million. The transaction is not subject to a financing condition. The sale is subject to approval by the EU antitrust authority. For K+S, the sale involves a book loss of about EUR 90 million in the second quarter of 2011. This and the net earnings of COMPO generated this year prior to the closing will from then on be stated as "discontinued operations". In financial year 2010, COMPO generated revenues of EUR 402.3 million and an EBITDA margin of approximately 4%. The strategy of the K+S Group provides for growth in the Potash and Magnesium Products and the Salt business segments in particular and for focussing management resources and financial means on this correspondingly. K+S Aktiengesellschaft Kassel, 20 June 2011 The Board of Executive Directors End of ad hoc notification Further inquiry note: Christian Herrmann Telefon: +49(0)561-9301-1460 E-Mail: christian.herrmann@k-plus-s.com end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: K+S Aktiengesellschaft Bertha-von-Suttner-Straße 7 D-34131 Kassel phone: +49 (0)561 9301-1460 FAX: +49 (0)561 9301-2425 mail: christian.herrmann@k-plus-s.com WWW: http://www.k-plus-s.com sector: Chemicals ISIN: DE0007162000 indexes: DAX, Midcap Market Index, CDAX, Classic All Share, HDAX, Prime All Share stockmarkets: regulated dealing/prime standard: Frankfurt, regulated dealing: Berlin, Hamburg, Stuttgart, Düsseldorf, Hannover, München language: English
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