In announcement no. 20 dated 16 August 2010, Solar A/S informed that the Group
had entered into an agreement for the acquisition of parts of the activities in
the Danish subsidiary of the Sonepar Group, Otra Danmark A/S. This acquisition
has now been effected.
Otra Danmark A/S operates as wholesaler within the product areas electrical
installation material, lighting, security/alarm, telecommunications/data
communications as well as cords and cables. The part of the business acquired
by the Solar Group consists primarily of sales to electrical contractors and
the activities will be continued by the Group's Danish subsidiary Solar Danmark
A/S.
Revenue from the activities acquired amounted to DKK 202m in 2009.
Financial consequences
The acquisition price for the activities consisting of stocks and receivables
is € 10m. The acquisition will be financed via drain on the financial resources
of the Solar Group.
The acquisition does not make any changes in the guidance for 2010. Thus Solar
maintains expectations for revenue in the range from € 1,360m to € 1,400m and
for EBITA in the range from € 46m to € 53m.
Yours faithfully,
Solar A/S
Flemming H. Tomdrup
