Klöckner & Co SE - Sale of Koenig Verbindungstechnik AG, Switzerland, completed
Duisburg (euro adhoc) -
Announced deal consummated Transaction approved by antitrust authorities Focus on core business continued
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
companies
Duisburg, September 4, 2008 - Klöckner & Co SE, working through its Swiss subsidiary Debrunner Koenig Holding (DKH), completed the sale of Koenig Verbindungstechnik (KVT) today. As announced in July, the specialist in fastening systems has been acquired by the private equity company Capvis. The acquisition has already been approved by antitrust authorities.
KVT does business in the market of fastening systems and sealing plugs. As a result, it is not part of the core business of Klöckner & Co SE. The sale price was about EUR325 million, producing a book gain after taxes of around EUR265 million.
"After successfully directing the focus in North America to our core business, we have now continued this approach in Europe by selling KVT. With the funds produced by the transaction, we also gain further leeway for our expansion strategy," said Dr. Thomas Ludwig, CEO of Klöckner & Co SE.
About Klöckner & Co: Klöckner & Co is the largest producer-independent distributor of steel and metal products in the European and North American markets combined. The core business of the Klöckner & Co Group is the storage and distribution of steel and non-ferrous metals. About 210,000 active customers are supplied through more than 260 distribution locations in 15 countries in Europe and North America. During the financial year 2007, the Company achieved sales of approximately EUR6.3 billion with more than 10,000 employees.
The shares of Klöckner & Co SE are admitted to trading on the official market segment (Amtlicher Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with simultaneous admission to the sub-segment (Prime Standard) to the official market with further post-admission obligations. ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576. Klöckner & Co shares are listed in the MDax® Index of Deutsche Börse.
end of announcement euro adhoc
Further inquiry note:
Contact persons:
Peter Ringsleben, Claudia Uhlendorf - Corporate Communications
Peter Ringsleben
Phone: +49-203-307-2800
Fax: +49-203-307-5060
E-mail: peter.ringsleben@kloeckner.de
Claudia Uhlendorf
Phone: +49-203-307-2289
Fax: +49-203-307-5103
E-mail: claudia.uhlendorf@kloeckner.de
Claudia Nickolaus - Investor Relations
Phone: +49-203-307-2050
Fax: +49-203-307-5025
E-Mail: claudia.nickolaus@kloeckner.de
Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: MDAX, CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade