Stock Exchange Notification No. 10/2007
July 2, 2007
Skamol sold to Polaris
Auriga has today signed an agreement with a company under the Danish equity
fund Polaris Private Equity II K/S concerning the acquisition of all shares in
the subsidiary Skamol A/S as at July 13, 2007.
Skamol's financial investment in Damolin A/S will be transferred to Auriga
Industries A/S.
The sales price for Skamol is based on an enterprise value of DKK 260 million,
exclusive of the shareholding in Damolin. For Auriga, this means a net gain of
approx. DKK 80 million relative to the book value of the shares in Skamol,
exclusive of the equity value of the Damolin shares. Skamol is included in
Auriga's interim financial statements to be published on August 23, 2007 as net
profit of discontinued activity with comparative figures.
Through 20 years of ownership, Auriga has contributed to Skamol's development,
among other things through strategic investments in a French production
company, divestment of the granulate division to Damolin A/S, significant
expansion of the calcium silicate capacity and a number of other initiatives.
In recent years, Skamol has developed positively, realising growth in revenue
and earnings.
As the new owner of Skamol, Polaris intends to continue and strengthen this
positive development. Skamol's management and employees will continue, with the
exception of CEO Kurt Pedersen Kaalund, who will withdraw to focus on his
position as Executive Vice President of Cheminova A/S.
ATRIUM Partners has assisted Auriga as financial adviser in connection with the
sale.
AURIGA INDUSTRIES A/S
Ole Steen Andersen Bjørn Albinus
Chairman of the Board of Directors President and CEO
Enquiries concerning this stock exchange notification should be directed to Mr
Bjørn Albinus, President and CEO of Auriga, on telephone +457010 7030 or Mr
Kurt Pedersen Kaalund, CEO of Skamol, on telephone +45 5136 3954.
