Hexagon has sold the Norfood business area
9/7/2000 4:10 AM EST
"Shapers of new industry structures"
Press release
to Segulah II L.P., a private
equity fund.
The realised capital gain after tax is approx. 34 MSEK. The Divestiture is
a consequence of the new strategy that Hexagon communicated at the annual
general meeting in May. Hexagon´s ambition is to grow rapidly in fewer,
larger and more international businesses.
The Divestiture of Norfoods would have reduced the groups invoiced sales
for the first six months this year by 379 MSEK if Norfoods would have been
st
sold on January 1 2000. The reported group profit after financial
items, including the interest on the purchase price, would have been 1
MSEK higher for the corresponding time period. The Divestiture will reduce
Hexagon´s total assets by 300 MSEK.
"This transaction enables Hexagon to release capital from non-core
businesses to fuel a future expansion in the core business as well as
finding a professional new owner for Norfoods" comments Ola Rollén,
C.E.O. and President of the Hexagon group.
For further information please contact:
Ola Rollén, C.E.O. Hexagon AB, Phone: +46 (0) 70 - 511 61 73
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