STOCKHOLM, Sweden, April 02, 2003 (PRIMEZONE) -- Sapa AB (Other OTC:SPKKF) has entered into a preliminary agreement to acquire all the shares held by the main owner Aluclaeys Finance NV corresponding to a shareholding of 54.9 per cent in the Belgian group Remi Claeys Aluminium. Remi Claeys Aluminium is listed on Euronext.
The parties have agreed on an indicative price of Euro 27.8 per share subject to a due diligence in Remi Claeys Aluminium and certain other conditions. A subsequent binding agreement will be submitted for approval by relevant competition authorities. The price per share corresponds to a value for 100 per cent of Remi Claeys Aluminium's shares of approximately M 77 Euro.
Following the possible acquisition of the majority stake in Remi Claeys Aluminium, Sapa intends to launch a mandatory take over bid on the remaining shares held by the public in Remi Claeys Aluminium.
Remi Claeys Aluminium is one of Europe's largest independent producers of aluminium profiles, aluminium profile based systems and welded aluminium tubes with branches mainly in Benelux, France and Germany. The Group's net sales in 2002 was M 293 Euro and the operating margin amounted to approximately 4.5 per cent. Remi Claeys Aluminium has 1,100 employees.
Sapa is an international industrial group, which develops and markets value-added aluminium profiles, profile-based components and systems, and heat exchanger strip in aluminium. Sapa has an annual turnover of approximately 11 billion SEK, with 6,500 employees all over Europe and in USA and China. Sapa is one of Europe's leading companies within its field and the customers are found in the transport, building, engineering and telecom industries. Sapa is listed on Attract40 on the O- list of Stockholmsborsen.
Further information about Sapa can be found on our website www.sapagroup.com
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