INVESTMENT AB LATOUR Investment AB Latour has, through its fully owned subsidiary Latour-Gruppen AB, signed an agreement to divest its shares in Neuffer Fenster + Türen GmbH ("Neuffer") to IFN-Holding AG ("IFN"), based in Traun, Austria. The completion of the transaction is expected to take place during the month of January 2022, subject to customary closing conditions.
Neuffer is a company active in the distribution, development and installation of windows and doors through online sales and Latour acquired 66 per cent of the shares in Neuffer in 2015 in order to gain additional competence and knowledge within the e-commerce area. This initiative has now been completed and following a strategic review Latour has come to the conclusion to divest its ownership in Neuffer in order for Neuffer to continue its development with IFN as the new majority owner.
As an effect of the divestment the net debt (excl. IFRS 16) of the Latour Group is expected to decrease compared to the net debt level at the end of September 2021, to around SEK 8.3 billion, all else equal.
Göteborg, December 9, 2021
INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO
For further information, please contact:
Martin Knobloch, CEO Hultafors Group AB, +46 722 148 946
Jens Eriksson, CFO Hultafors Group AB, +46 702 114 601
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 94 billion. The wholly-owned industrial operations has an annual turnover of SEK 17 billion.
- Press release 2021-12-09
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Investment AB Latour published this content on 09 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 December 2021 15:01:09 UTC.
