BRUSSELS, Belgium, Dec. 18, 2013 (GLOBE NEWSWIRE) -- RHJ International ("RHJI", "the Company") is announcing today that it has sold its remaining 10.9% stake in business consulting services company SigmaXYZ through an initial public offering ("IPO") on the Tokyo Stock Exchange ("TSE"). The IPO of RHJI's stake, equating to 490,500 shares in the newly-listed entity, follows the earlier sale of a 10.9% stake to a number of Japanese buyers in September 2013 and has generated proceeds of €9.6 million (JPY1,358 million), representing 2.2 times the €4.3 million carrying value of the stake sold.
RHJ International's Chief Executive Officer, Leonhard Fischer, commented:
"Today's announcement is a positive development for the Company as it represents one of the last disposals from our legacy portfolio and has been executed at on attractive terms. With our remaining legacy holdings in The Ripplewood Fund and Shaklee now accounting for less than 2% of our total portfolio, our transformation to a focused financial services business is virtually complete."
About RHJ International
RHJ International is a financial services group with principal activities in wealth management, asset management and merchant banking. Our wealth management operations are conducted through Kleinwort Benson: an independent and relationship-driven private bank. RHJI's asset management operations are carried out through Kleinwort Benson Investors: a Dublin-based institutional asset manager that offers investors innovative and differentiated specialist strategies on both a segregated and unitised basis. RHJI is listed on Euronext Brussels, with the ticker symbol "RHJI"
For further information, please contact:
Investor Relations Director
Tel: +32 2 643 6013
Full Press Release (PDF) http://hugin.info/135946/R/1750558/589988.pdf