from KAP AG (isin : DE0006208408)
EQS-Adhoc: KAP AG STREAMLINES INVESTMENT PORTFOLIO AND SELLS PRECISION COMPONENTS SEGMENT
EQS-Ad-hoc: KAP AG / Key word(s): Strategic Company Decision/Disposal
KAP AG STREAMLINES INVESTMENT PORTFOLIO AND SELLS PRECISION COMPONENTS SEGMENT
01-Oct-2024 / 15:32 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
KAP AG STREAMLINES INVESTMENT PORTFOLIO AND SELLS PRECISION COMPONENTS SEGMENT
Fulda, 1 October 2024 – KAP AG (“KAP”), a mid-sized industrial holding company listed on the stock exchange (German securities identification number WKN 620840, ISIN DE0006208408), today concluded an agreement on the sale of all material parts of the precision components segment to the current management under a management buy-out (MBO). The companies to be sold are the three operating investees Präzisionsteile Dresden GmbH & Co. KG, Gear Motion GmbH and BEBUSCH Hungaria Müanyagfeldolgozó Kft. as well as three further management and real estate management companies associated with the investees.
The sale will generate proceeds in the single-digit million euro range for KAP, and the buyer will also assume pension and financial obligations. Due to the high level of investment in the precision components segment in recent years, the sale will result in book losses in the double-digit million euro range. These will not be allocated to the operating business performance and therefore have no impact on the 2024 guidance forecast. The transaction is expected to be closed at the end of October 2024.
The Management Board
Notifying officer and investor relations contact
Kai Knitter
Head of Investor Relations & Corporate Communications
kai.knitter@kap.de
+49 (0) 661 103 327
End of Inside Information
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| Language: | English |
| Company: | KAP AG |
| Edelzeller Straße 44 | |
| 36043 Fulda | |
| Germany | |
| Phone: | 06611030 |
| Fax: | 0661103830 |
| E-mail: | office@kap.de |
| Internet: | www.kap.de |
| ISIN: | DE0006208408 |
| WKN: | 620840 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1998837 |
| End of Announcement | EQS News Service |
1998837 01-Oct-2024 CET/CEST