MALMO, Sweden, June 6, 2002 (PRIMEZONE) -- In April, Cardo entered into a preliminary agreement with Vestar Capital Partners whereby Vestar will acquire the Cardo Rail business area from Cardo. The intention of the parties is to enter into a definitive sale and purchase agreement as soon as contract negotiations and due diligence have been completed.
The current negotiations and due diligence process are expected to be completed during the month of July.
Malmo, Sweden, June 6 2002
Cardo AB (publ)
Cardo is an international engineering group with a turnover of approximately SEK 11 billion. Cardo holds a strong position in the markets for doors, pumps and rail-vehicle brake systems. Cardo has subsidiaries in about 30 countries with the focal point resting in western Europe, and roughly 8,000 employees.
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