EANS-News: K+S Aktiengesellschaft
Focus on core business: K+S sells COMPO to
investment company Triton
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information Subtitle: K+S Aktiengesellschaft / Focus on core business: K+S sells COMPO to investment company Triton Kassel (euro adhoc) - Kassel, Germany - June 20, 2011 Focus on core business K+S sells COMPO to investment company Triton 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. "We are pleased to have found in Triton what we believe is a good new owner for COMPO. With its commitment and its overall concept, Triton sent a clear signal for a positive future for the company," says Norbert Steiner, Chairman of the Board of Executive Directors of K+S Aktiengesellschaft. 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. Against this backdrop, K+S started the examination of a sale of COMPO last year. In the second half of 2010, preparations were made for the company law and corporate carve-out of COMPO from the K+S Group and were completed at the beginning of 2011. Contact was then made with potential investors and, within the framework of a bidding process, a good new owner has now been found in Triton. During the sale process, K+S was advised by the investment bank Goldman Sachs and the law firm Freshfields Bruckhaus Deringer. About Triton Triton is an independent European private equity investor and focuses on companies in German-speaking countries and Northern Europe. Triton invests in market leaders in attractive niches with a high potential for increased value and currently has an as yet uninvested fund volume of over EUR 1.5 billion at its disposal. Investors of the Triton funds are renowned institutional investors, pension funds, families and foundations. About COMPO COMPO, based in Münster/Westphalia, is one of the leading suppliers of branded goods for home and garden. The range of products includes fertilizers, plant protection products, high-quality potting soils and speciality products for public green areas, professional horticulture, special crops and special applications in agriculture. The company has one of the best-known brand and most innovative product portfolios in the sector and employs 1,075 people globally. About K+S The K+S Group is one of the world's leading suppliers of standard and speciality fertilizers. In the salt business, K+S is the world´s leading producer with sites in Europe as well as North and South America. K+S offers a comprehensive range of goods and services for agriculture, industry, and private consumers which provides growth opportunities in virtually every sphere of daily life. The K+S Group employs more than 15,000 people. The K+S share - the commodities stock on the German DAX index - is listed on all German stock exchanges (ISIN: DE0007162000, symbol: SDF). More information about K+S can be found at www.k-plus-s.com. Your contact persons: Press: Michael Wudonig, CFA phone: +49 561 9301-1262 fax: +49 561 9301-1666 michael.wudonig@k-plus-s.com Investor Relations: Christian Herrmann, CFA phone: +49 561 9301-1460 fax: +49 561 9301-2425 christian.herrmann@k-plus-s.com Forward-Looking Statements Statements in this release that are forward-looking statements are subject to various risks and uncertainties. Such statements represent management's best judgment as of the date hereof based on information currently available. Statements in this press release other than purely historical information, including statements relating to the companies' future plans and objectives or expected results, constitute forward-looking statements. Forward looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the companies' business. The companies do not assume the obligation to update any forward-looking statement. Further inquiry note: Press: Michael Wudonig, CFA phone: +49 561 9301-1262 fax: +49 561 9301-1666 michael.wudonig@k-plus-s.com Investor Relations: Christian Herrmann, CFA phone: +49 561 9301-1460 fax: +49 561 9301-2425 christian.herrmann@k-plus-s.com K+S Aktiengesellschaft Communications P.O. Box 10 20 29, 34111 Kassel, Germany Bertha-von-Suttner-Str. 7, 34131 Kassel www.k-plus-s.com ; __________________________________________________________ Chairman of the Supervisory Board: Dr. Ralf Bethke Board of Executive Directors: Norbert Steiner (Chairman), Joachim Felker, Gerd Grimmig, Dr. Thomas Nöcker, Jan Peter Nonnenkamp Registered Office: Kassel Commercial Register: Kassel HRB 2669 end of announcement euro adhoc -------------------------------------------------------------------------------- company: 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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