EANS-Adhoc: K+S sells COMPO to investment company Triton Closing of the
transaction, with an enterprise value of EUR 205 million for COMPO, is expected
to take place as early as this summer
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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20.06.2011
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.
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.
K+S Aktiengesellschaft
Kassel, 20 June 2011
The Board of Executive Directors
End of ad hoc notification
Further inquiry note:
Christian Herrmann
Telefon: +49(0)561-9301-1460
E-Mail: christian.herrmann@k-plus-s.com
end of announcement euro adhoc
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issuer: 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