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SGL CARBON AG (FRA:SGL) SGL CARBON SE: SGL Group signs agreement to sell its cathodes, furnace linings, and carbon electrodes (CFL/CE) business to Triton

Directive transparence : information réglementée

08/08/2017 18:27

DGAP-Ad-hoc: SGL CARBON SE / Key word(s): Disposal
SGL CARBON SE: SGL Group signs agreement to sell its cathodes, furnace linings, and carbon electrodes (CFL/CE) business to Triton

08-Aug-2017 / 18:27 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


SGL Group signs agreement to sell its cathodes, furnace linings, and carbon electrodes (CFL/CE) business to Triton
 
  • Enterprise value of 250 million euros agreed - translating into cash proceeds of more than 230 million euros
  • Transaction expected to close in the fourth quarter of 2017
     
    Wiesbaden, August 8, 2017. Today, SGL Carbon Holdings BV, a subsidiary of SGL Carbon SE, signed the sale and purchase agreement to sell SGL Group's cathodes, furnace linings, and carbon electrodes (CFL/CE) business to funds advised by Triton ("Triton"). The two parties have agreed on an enterprise value (cash and debt free) of 250 million euros, which, after deduction of standard debt-like items (mainly pension provisions) as well as other customary adjustments, results in cash proceeds of more than 230 million euros. The final proceeds will be determined based on the balance sheet at closing. The transaction is subject to customary closing conditions, mainly relating to antitrust approvals. Closing is expected in the fourth quarter 2017.

    Triton seeks to invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors. The 31 companies currently in Triton's portfolio have combined sales of around 14.4 billion euros and around 89,000 employees.

    Following the closing of the transaction, approximately 30 employees in Germany and 600 employees in Poland, who are based at the two production facilities in Nowy Sacz and Raciborz, will move from SGL Group to their new owner.

    The sale will result in a book profit of approx. 130 million euros in the current fiscal year of SGL Group.

    As previously outlined, the proceeds will be used to pay back debt.

Information and Explanation of the Issuer to this News:

Important note:
To the extent that our press release contains forward-looking statements, the latter are based on information that is available at present and on our current forecasts and assumptions. Forward-looking statements, by their very nature, entail known as well as unknown risks and uncertainties that may lead to actual developments and events differing substantially from the forward-looking assessments. Forward-looking statements must not be understood to be guarantees. Instead, future developments and events depend on a large number of factors; they comprise various risks and imponderables and are based on assumptions that may possibly turn out not to be appropriate. These include unforeseeable changes to fundamental political, economic, legal and societal conditions, particularly in the context of our main customers' industries, such as electric steelmaking, the competitive situation, interest and exchange rate trends, technological developments as well as other risks and uncertainties. We perceive additional risks e.g. in pricing developments, unforeseeable events in the environment of companies acquired and Group member companies as well as in current cost savings programs from time to time. The SGL Group assumes no obligation and does not intend to adjust or otherwise update these forward-looking statements either.
 

08-Aug-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: SGL CARBON SE
Söhnleinstraße 8
65201 Wiesbaden
Germany
Phone: +49 (0)611 6029 - 0
Fax: +49 (0)611 6029 - 101
E-mail: investor-relations@sglgroup.com
Internet: www.sglgroup.de
ISIN: DE0007235301
WKN: 723530
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

 
End of Announcement DGAP News Service

599733  08-Aug-2017 CET/CEST

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