Registered Office: 20121 Milan (MI) Foro Buonaparte, 44
Share Capital: Euro 335,069,287.51, fully paid-inMilan Company Register - Tax I.D. Nr. 00931330583 www itkgroup.it
KME GROUP COMPLETES THE TRANSFER OF CONTROL OF SPECIAL BUSINESS TO PARAGON
Milan, 31st January 2022 ‐ Following up to its press release published on 18th December 2021, Intek Group S.p.A. informs that its subsidiaries KME SE and KME Special Products GmbH & Co. KG (together "KME Group") have executed the agreement signed with The Paragon Fund III ("Paragon"), after fulfillment of the conditions precedent envisaged therein, and has therefore completed the transfer of control of the Special Business of KME Group to Paragon, by means of a contribution of such a Business to a newco ("Newco") owned 55% by Paragon and 45% by KME Group.
The execution of the agreement allows KME Group to cash in an amount of around € 200 million after the repayment of around € 20 million of intragroup working capital facilities and after having provided a € 32 million shareholder loan (the "KME vendor loan") to Newco.
The transaction with Paragon contributes significantly to KME Group target of a progressive deleveraging. At the same time, KME Group will be able to participate in the future growth of the Specials business under the new Paragon‐led ownership structure.
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The press release is available on the Company's website, www.itkgroup.it. Additional information may be directly requested from the Company (telephone number +39.02.806291; e.mail: firstname.lastname@example.org) and through the "eMarket STORAGE" system operated by Spafid Connect SpA at the address: www.emarketstorage.com.
Intek Group S.p.A. published this content on 31 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2022 22:50:50 UTC.