Enterprise value of 250 million euros agreed – expected cash inflow of more than 230 million euros
Closing expected in the fourth quarter of 2017
Talks with the responsible US authorities regarding the cartel clearance of the sale of the graphite electrode business to Showa Denko on the home straight – the closing could be postponed to the beginning of the fourth quarter of 2017
With these two transactions, the former Performance Products (PP) division was sold for a total enterprise value of 600 million euros and around 130 million euros above the book value of June 30, 2016
Wiesbaden, August 8, 2017. SGL Group today signed an agreement to sell its cathodes, furnace linings and carbon electrodes (CFL / CE) business to funds advised by Triton (“Triton”). After deducting liquid funds and debts, both contracting parties have agreed on an enterprise value of 250 million euros. After deducting customary debt-like obligations, above all provisions for pension costs, as well as other customary adjustments, the SGL Group has a cash inflow of more than 230 million euros. The final sales proceeds will be determined on the basis of the balance sheet to be drawn up at the time of closing. The transaction is subject to the customary closing conditions, in particular the approval of the antitrust authorities.
The Triton funds invest in medium-sized companies based in Europe and support their positive development. They focus on companies in the industrial, service and consumer goods / healthcare sectors. Triton currently has 31 companies with a total turnover of around 14.4 billion euros and around 89,000 employees.