December 19, 2017 / 11:22 AM / 6 months ago

BRIEF-Panostaja Sells KotiSun Group To Fund Managed By CapMan

* PANOSTAJA SELLS KOTISUN GROUP TO FUND MANAGED BY CAPMAN

* - KOTISUN GROUP’S MANAGEMENT WILL CONTINUE AS A MINORITY SHAREHOLDER IN COMPANY WITH THEIR SHARE OF 30%

* - TO SELL ENTIRE SHARE CAPITAL OF KOTISUN GROUP OY TO CAPMAN BUYOUT X FUND MANAGED BY CAPMAN

* ‍ONCE DEAL HAS BEEN COMPLETED, PANOSTAJA GROUP WILL RECORD ABOUT MEUR 33 IN SALES PROFIT BEFORE TAXES.​

* - TOTAL DEBT-FREE SALE PRICE OF SHARES SOLD IS ESTIMATED TO BE EUR 88 MILLION

* PANOSTAJA - ITS SHARE AFTER DEDUCTION OF INTEREST-BEARING NET LIABILITIES AND COSTS RELATED TO SALE WILL BE ABOUT EUR 40.7 MILLION

* ‍PARTIES INVOLVED IN TRANSACTION ARE EXPECTING DEAL TO BE FINALIZED BY JANUARY 31, 2018​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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