No. 14 2018 Solar A/S completes divestment of Belgian business activities
In announcement no. 3 dated 31 January 2018, Solar A/S informed about making an asset deal with the French Sonepar Group concerning the divestment of the assets in Claessen ELGB NV in Belgium. This transaction has now been completed.
When the remaining assets have been divested we expect to free up a total of approx. DKK 25m with a normalised net working capital.
CEO Jens Andersen says about the closing of the deal:
"With the divestment of our Belgian business activities, we can now fully focus on developing the rest of the business based on our three strategic focus areas that form the basis for our financial targets."
The divestment will not change our previously announced expectations for 2018.
Claessen ELGB NV is presented as discontinuing activities in the consolidated accounts for the Solar Group.
CEO Jens Andersen - tel. +45 79 30 02 01
CFO Michael H. Jeppesen - tel. +45 79 30 02 62
Director, Stakeholder Relations Charlotte Risskov Kræfting - tel. +45 40 34 29 08
Facts about Solar
Solar Group is a leading sourcing and services company. Our core business centres on product sourcing, value-adding services and optimisation of our customers' businesses.
Being a sourcing and services company, we focus on each individual customer. We always strive to understand our customers' unique and genuine needs in order to provide relevant, personal and value-adding services, turning our customers into winners.
Solar Group is headquartered in Denmark, generated revenue of more than DKK 11bn in 2017 and has approx. 3,000 employees. Solar is listed on Nasdaq Copenhagen and operates under the short designation SOLAR B. For more information, please visit www.solar.eu.
This announcement was published in Danish and English today via Nasdaq Copenhagen. In the event of any inconsistency between the two versions, the Danish version shall prevail.