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DJ EANS-Adhoc: K+S sells COMPO to investment company Triton / Closing of the transaction, with an enterprise value of EUR 205 million for COMPO, is expected to take place as early as this summer

DJ EANS-Adhoc: K+S sells COMPO to investment company Triton / Closing of the transaction, with an enterprise value of EUR 205 million for COMPO, is expected to take place as early as this summer

DJ EANS-Adhoc: K+S sells COMPO to investment company Triton / Closing of the transaction, with an enterprise value of EUR 205 million for COMPO, is expected to take place as early as this summer

 
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc 
with the aim of a Europe-wide distribution. The issuer is solely responsible for 
the content of this announcement. 
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20.06.2011 
 
With the consent of the Supervisory Board, the Board of Executive Directors of 
K+S Aktiengesellschaft has decided to sell the business activities of COMPO to 
the European PRIVATE EQUITY investor Triton. A corresponding sales agreement was 
signed today. With this step, the examination of a sale of COMPO started last 
year has reached its conclusion. 
 
The effective economic date of the transfer is 1 March 2011. The closing of the 
transaction, with an enterprise value of EUR 205 million for COMPO, is expected 
to take place as early as this summer. After the deduction of assumed 
liabilities, K+S expects a cash inflow of probably about EUR 150 million. The 
transaction is not subject to a financing condition. The sale is subject to 
approval by the EU antitrust authority. For K+S, the sale involves a book loss 
of about EUR 90 million in the second quarter of 2011. This and the net earnings 
of COMPO generated this year prior to the closing will from then on be stated as 
"discontinued operations". In financial year 2010, COMPO generated revenues of 
EUR 402.3 million and an EBITDA margin of approximately 4%. 
 
The strategy of the K+S Group provides for growth in the POTASH and Magnesium 
Products and the Salt business segments in particular and for focussing 
management resources and financial means on this correspondingly. 
 
K+S Aktiengesellschaft 
Kassel, 20 June 2011 
 
The Board of Executive Directors 
 
End of ad hoc notification 
 
 
 
end of announcement                               euro adhoc 
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(END) Dow Jones Newswires

June 20, 2011 17:28 ET (21:28 GMT)

Quelle: DJ-Newswire


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