February 12, 2018 / 8:18 AM / 10 months ago

BRIEF-Ratos sells Jotul in 360 mln NOK deal

Feb 12 (Reuters) - Ratos AB:

* DIVESTS JOTUL

* SAYS ‍DIVESTMENT GENERATES AN ESTIMATED NET RESULT EFFECT OF APPROXIMATELY SEK 40M​

* SAYS ‍INVESTMENT HAS GENERATED A NEGATIVE AVERAGE ANNUAL RATE OF RETURN (IRR)​

* SAYS ‍TO SELL ALL OF ITS SHARES IN ITS SUBSIDIARY JOTUL A/S (JOTUL), A MARKET-LEADING NORWEGIAN MANUFACTURER OF CAST-IRON STOVES AND FIREPLACES WITH GLOBAL DISTRIBUTION, TO OPENGATE CAPITAL FOR APPROXIMATELY NOK 360M (ENTERPRISE VALUE)​

* SAYS ‍TRANSACTION IS EXPECTED TO BE COMPLETED DURING Q1 OF 2018​ Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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