K+S Aktiengesellschaft: K+S signs agreement to sell its Operating Unit Americas to Stone Canyon Industries Holdings LLC, Mark Demetree and affiliates for a total of USD 3.2 billion.
October 05, 2020 at 04:03 pm EDT
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DGAP-Ad-hoc: K+S Aktiengesellschaft / Key word(s): Agreement/Disposal
K+S Aktiengesellschaft: K+S signs agreement to sell its Operating Unit Americas to Stone Canyon Industries Holdings LLC, Mark Demetree and affiliates for a total of USD 3.2 billion.
05-Oct-2020 / 22:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
* Closing expected to occur in summer 2021
* Transaction subject to customary closing conditions, including antitrust approvals
K+S Aktiengesellschaft signed today a definitive agreement to sell its Operating Unit Americas, comprising its American salt businesses, to Stone Canyon Industries Holdings LLC, Mark Demetree and affiliates for a total of USD 3.2 billion, representing 12.5x the 2019 EBITDA of USD 257 million. The closing of the transaction is expected to occur in summer 2021, subject to customary closing conditions, including antitrust approvals. The purchase price will be paid in cash immediately upon closing of the transaction.
Further information on the sale of the Operating Unit Americas is available at https://www.kpluss.com.
05-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
K+S Aktiengesellschaft
Bertha-von-Suttner-Str. 7
34131 Kassel
Germany
Phone:
+49 561 9301 0
Fax:
+49 561 9301 2425
E-mail:
investor-relations@k-plus-s.com
Internet:
www.k-plus-s.com
ISIN:
DE000KSAG888
WKN:
KSAG88
Indices:
MDAX
Listed:
Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange
K+S Aktiengesellschaft is a Germany-based salt producer and potash provider. The Company operates through three segments: Salt, Potash and Magnesium, and Complementary Activities. The Salt segment encompasses the production and marketing of food-grade salt, industrial salt and salt for chemical use, de-icing salt, and sodium chloride brine. The Potash and Magnesium segment combines the production and marketing of potash fertilizers and fertilizer specialties, as well as potash and magnesium compounds for technical, industrial, and pharmaceutical applications. The Complementary Activities segment bundles together recycling activities, waste disposal, and reutilization in potash and rock salt mines and CATSAN and THOMAS granulation, as well as logistics services through K+S Transport GmbH and trading in different basic chemicals through Chemische Fabrik Kalk GmbH.
K+S Aktiengesellschaft: K+S signs agreement to sell its Operating Unit Americas to Stone Canyon Industries Holdings LLC, Mark Demetree and affiliates for a total of USD 3.2 billion.