Edition:
United Kingdom

TKH Group Divests Majority Of Industrial Connectivity Activities


Tuesday, 16 Jul 2019 

July 16 (Reuters) - TKH GROUP NV ::TKH DIVESTS MAJORITY OF INDUSTRIAL CONNECTIVITY ACTIVITIES.CREATION OF A NEWCO THAT WILL TAKE OVER THE SHARES OF A MAJOR PART OF THE TKH INDUSTRIAL CONNECTIVITY ACTIVITIES.ACTIVITIES WILL BE DIVESTED FOR AN ENTERPRISE VALUE OF € 113 MILLION.TKH WILL INVEST IN NEWCO FOR € 17 MILLION TO ACQUIRE A MINORITY STAKE OF 44%.CREATION OF A NEWCO IN AGREEMENT WITH TORQX CAPITAL PARTNERS.THE TRANSACTION IS EXPECTED TO BE CLOSED IN THE THIRD QUARTER OF 2019 AND WILL RESULT IN A ONE OFF NET PROFIT CONTRIBUTION OF AT LEAST € 30 MILLION. 

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16 Aug 2019