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    LEO   DE0005408884

LEONI AG

(LEO)
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Leoni AG signs agreement with BizLink Holding Inc. on sale of the Business Group Industrial Solutions belonging to the Wire & Cable Solutions (WCS) Division

10/01/2021 | 05:02am EST

DGAP-Ad-hoc: Leoni AG / Key word(s): Disposal Leoni AG signs agreement with BizLink Holding Inc. on sale of the Business Group Industrial Solutions belonging to the Wire & Cable Solutions (WCS) Division 01-Oct-2021 / 11:01 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.

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Leoni AG signs agreement with BizLink Holding Inc. on sale of the Business Group Industrial Solutions belonging to the Wire & Cable Solutions (WCS) Division

Nuremberg, 01 October 2021 - Leoni AG (ISIN: DE0005408884 / WKN: 540888) today signed a binding agreement with BizLink, an international provider of solutions for cables and connectivity services, on the sale of the Business Group Leoni Industrial Solutions.

The sold activities generated sales of approximately EUR 430 million in fiscal year 2020 and are valued with an enterprise value of around EUR 450 million. The expected cash inflow of more than EUR 300 million after deduction of, among other things, financial liabilities and pension charges is to be used to improve liquidity. The transaction will thus contribute to significantly improving Leoni's financial position. Upon completion of the sale, a profit of around EUR 200 million is expected, to be accounted for in the Group's reported EBIT.

The closing of the transaction is still subject to approval of Leoni AG's financing banks and customary closing conditions, including merger control and investment review, and is expected in early 2022. The Executive Board and the Supervisory Board of Leoni AG as well as the Board of the buyer have already approved the planned sale.

Contact Press LEONI AG Gregor le Claire Corporate Press Officer Phone: +49 911 2023-226 E-mail: gregor.leclaire@leoni.com

Contact Investor Relations LEONI AG Rolf Becker Senior Manager Investor Relations Phone: +49 911 2023-134 E-mail: rolf.becker@leoni.com

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01-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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Language:     English 
Company:      Leoni AG 
              Marienstraße 7 
              90402 Nuremberg 
              Germany 
Phone:        +49 (0)911 20 23-234 
Fax:          +49 (0)911 20 23-382 
E-mail:       veroeffentlichung@leoni.com 
Internet:     www.leoni.com 
ISIN:         DE0005408884 
WKN:          540888 
Listed:       Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; 
              Regulated Unofficial Market in Tradegate Exchange; Madrid 
EQS News ID:  1237450 
 
End of Announcement  DGAP News Service 
=------------ 

1237450 01-Oct-2021 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1237450&application_name=news

(END) Dow Jones Newswires

October 01, 2021 05:01 ET (09:01 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
BIZLINK HOLDING INC. -0.58% 256 End-of-day quote.5.13%
LEONI AG -5.64% 10.54 Delayed Quote.58.50%
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Analyst Recommendations on LEONI AG
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Financials
Sales 2021 5 092 M 5 762 M 5 762 M
Net income 2021 25,1 M 28,4 M 28,4 M
Net Debt 2021 1 610 M 1 822 M 1 822 M
P/E ratio 2021 13,8x
Yield 2021 -
Capitalization 344 M 390 M 390 M
EV / Sales 2021 0,38x
EV / Sales 2022 0,36x
Nbr of Employees 102 262
Free-Float 78,5%
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Number of Analysts 5
Last Close Price 10,54 €
Average target price 11,14 €
Spread / Average Target 5,69%
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Managers and Directors
Aldo Kamper President & Chief Executive Officer
Ingrid Jńgering Chief Financial Officer
Klaus Probst Chairman-Supervisory Board
Franz Spie▀ First Deputy Chairman-Supervisory Board
Karl-Heinz Lach Member-Supervisory Board
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