Solar A/S has divested assets in Solar Deutschland GmbH.
In announcement no. 1 of 3 February 2015, we stated that Solar A/S had entered into agreement with the French Sonepar Group concerning the divestment of assets in Solar Deutschland GmbH. That transaction is now finalised. This means that Sonepar acquires buildings, inventories, debtors and all employees.
CEO Anders Wilhjelm about the finalised transaction:
”We are pleased that the divestment of our German business is now a reality. The process has been better than expected which is why it is possible to finalise the transaction earlier than planned.”
Financial consequences
The divestment entails an accounting gain of approximately DKK 50 million and will free up capital worth approximately DKK 250 million calculated on a normalised basis. The divestment does not change our previously stated expectations for 2015.
Yours faithfully
Solar A/S
Anders Wilhjelm
Facts about Solar
Solar A/S is a listed company and one of Northern Europe’s leading sourcing and services companies, mainly within electrical, heating, plumbing and ventilation technologies. Solar offers products, knowledge and solutions.
In 2014, the Solar Group, which is based in Denmark, generated revenue around DKK 10.3bn. The group currently employs around 3,000 employees.
Solar is listed on Nasdaq Copenhagen with the short designation SOLAR B and has been listed since 1953.
For more information, please visit: www.solar.eu
Disclaimer
This announcement was published in Danish and English today via Nasdaq Copenhagen. In case of any discrepancy between the two versions, the Danish version shall prevail.
