Ratos discloses the information provided herein pursuant to the
Swedish Securities Exchange and Clearing Operations Act and/or the
Swedish Financial Instruments Trading Act. The information was
submitted for publication at 08.30 CET, on 28 November, 2007.
Ratos and 3i have completed a refinancing of DIAB totalling SEK
1,000m, of which Ratos will receive SEK 500m. The refinancing was
made possible by the company's favourable performance in recent
years.
DIAB, which is 50% owned by Ratos, is the world leader in
manufacturing and development of core materials for composite
structures such as blades for wind turbines, boat hulls and decks,
and components for aircraft, trains, buses and space rockets. The
material has a unique combination of characteristics such as low
weight, high strength, insulation properties and chemical resistance.
DIAB has had strong sales and earnings growth over the past five
years. In 2006, sales totalled SEK 1,205m and operating profit
(EBITA) reached SEK 258m.
- Ratos CEO Arne Karlsson: "DIAB has seen fantastic development
which now makes a refinancing of the company possible. Our assessment
is that the company's future prospects remain good, and the
refinancing we are now carrying out will give the company a more
efficient capital structure."
As a result of the refinancing the consolidated book value for DIAB
in Ratos's consolidated balance sheet will be adjusted downwards by
SEK 500m. The book value will thereby, combined with some other
structural changes, amount to approximately SEK 325m, based on the
book value at 30 September 2007. The refinancing of DIAB will have no
earnings impact for Ratos.
The refinancing of DIAB is subject to approval from Bolagsverket in
Sweden.
For further information, please contact
Arne Karlsson, CEO Ratos, +46 8 700 17 00
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46
8 700 17 63
Financial calendar from Ratos:
Year-end report 2007 21 February 2008
AGM 2008 9 April 2008
Interim report January - March 2008 8 May 2008
Interim report January - June 2008 22 August 2008
Interim report January - September 2008 7 November 2008
Ratos is a listed private equity company. The business concept is to
maximise shareholder value over time by investing in, developing and
divesting primarily unlisted companies. Ratos thus offers stock
market players a unique investment opportunity. The equity of Ratos's
investments is approximately SEK 11 billion and a market
capitalisation of approximately SEK 30 billion. Ratos's holdings
include AH Industries, Anticimex, Arcus Gruppen, Bisnode, Camfil,
Contex, DIAB, EuroMaint, GS-Hydro, Haendig, Haglöfs, HL Display,
HÅG/RH/RBM, Hägglunds Drives, Inwido, Jøtul, Lindab, MCC, Medifiq
Healthcare, Superfos and Other holdings.
