NASDAQ OMX Copenhagen
Nikolaj Plads 6
DK-1007 Copenhagen K
28 February 2014
Announcement No.4
Nilfisk-Advance has decided to divest its activities related to its wooden floor sanding equipment business based in Springdale, Arkansas, US (“Sanders Business”).
The divestment of the Sanders Business is based on a strategic review of the business and product portfolio of Nilfisk-Advance. Nilfisk-Advance has conducted a competitive sales process and on this basis Nilfisk-Advance has entered into an agreement to sell the Sanders Business for a total consideration of 22,35 mUSD (approx. 122 mDKK) to Amano Pioneer Eclipse Corporation.
The divestment is structured as a sale of assets of a division of Nilfisk-Advance Inc.
The transaction is subject to customary closing conditions and it is expected to close on 31st March 2014.
The transaction will lead to a gain on disposal of approximately 100 mDKK which is to be recognised in the fiscal year 2014 (see also NKT’s Annual Report, page 7).
Please direct any questions to the signers.
Kind regards
NKT Holding A/S
Michael Hedegaard Lyng
Group Executive Director & CFO
