Divestment

The Finnish Competition and Consumer Authority confirms that the conditions on the divestment size in Caverion's Maintpartner transaction have been fulfilled

Retrieved on: 
Thursday, February 25, 2021
Caverion, Finnish Competition and Consumer Authority, Economy, Berlin Brandenburg Airport, Divestment, States of Germany

HELSINKI, Feb. 25, 2021 /PRNewswire/ -- The Finnish Competition and Consumer Authority (the "FCCA") has today confirmed that Caverion's divestment on 30 September 2020 did fulfil the conditions on the divestment size in Caverion's Maintpartner transaction.

Key Points: 
  • HELSINKI, Feb. 25, 2021 /PRNewswire/ -- The Finnish Competition and Consumer Authority (the "FCCA") has today confirmed that Caverion's divestment on 30 September 2020 did fulfil the conditions on the divestment size in Caverion's Maintpartner transaction.
  • Caverion completed the sale of certain Finnish operations of Caverion Industria Ltd to Elcoline Oy on 30 September 2020.
  • The FCCA approved that the sale of this business did fulfil the conditions on the divestment size in accordance with its decision.
  • Milena Hggstrm, Head of Investor Relations and External Communications, Caverion Corporation, tel.

Philips publishes its Annual Report 2020

Retrieved on: 
Tuesday, February 23, 2021
Economy, Eindhoven, Light-emitting diodes, Finance, Companies, Philips, Videotelephony, Forward-looking statement, Divestment

Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions.

Key Points: 
  • Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions.
  • Philips generated 2020 sales of EUR 19.5 billion and employs approximately 82,000 employees with sales and services in more than 100 countries.
  • This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items.
  • Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips organic business and the completion of acquisitions and divestments.

Forward Air Announces Sale of Pool Distribution Business

Retrieved on: 
Monday, February 15, 2021
Trucking, Air, Transport, Logistics, Supply chain management, Finance, Money, Economy, Corporate finance, Earnout, Private equity, Venture capital, Divestment, Forward-looking statement, Trucking, Air, Transport, Logistics, Supply chain management, Finance, Money, Economy, Corporate finance, Earnout, Private equity, Venture capital, Divestment, Forward-looking statement

Forward today announced the sale of its Pool Distribution business to Ten Oaks Group for an estimated total consideration of $20 million, consisting of $8 million upfront cash payment and up to a $12 million earnout based on 2021 revenue attainment.

Key Points: 
  • Forward today announced the sale of its Pool Distribution business to Ten Oaks Group for an estimated total consideration of $20 million, consisting of $8 million upfront cash payment and up to a $12 million earnout based on 2021 revenue attainment.
  • Scott Schara, Chief Commercial Officer stated, Divesting our Pool Distribution business will allow us to invest further in our core businesses.
  • With Ten Oaks Group, weve found a partner who will be laser-focused on taking the Pool Distribution business to the next level.
  • This press release may contain statements that might be considered as forward-looking statements or predictions of future operations including with respect to the expected funding of the Pool Distribution business sale.

Citycon divests three shopping centres in Sweden

Retrieved on: 
Friday, February 12, 2021
Citycon, Tumba, Divestment, Economy

HELSINKI, Feb. 12, 2021 /PRNewswire/ -- Citycon has signed a binding, unconditional agreement to sell a portfolio of three shopping centres in Sweden to Nordic real estate investor Niam.

Key Points: 
  • HELSINKI, Feb. 12, 2021 /PRNewswire/ -- Citycon has signed a binding, unconditional agreement to sell a portfolio of three shopping centres in Sweden to Nordic real estate investor Niam.
  • The gross purchase price for the assets is 1,483 million Swedish krona (147 million euros) and exceeds the assets appraised value.
  • The shopping centres to be divested, Tumba, Hgdalen, Frungen, are located in the Stockholm area and the transaction is estimated to close during Q1/2021.
  • F. Scott Ball, Citycon's CEO, comments on the transaction: "This divestment follows Citycon' s strategy to focus on larger, grocery /municipal services-anchored, urban hubs with a connection to transportation links and which provide further densification potential to add residential units, offices and other complimentary uses.

CEMEX Announces Sale of Certain Assets in Southeastern France

Retrieved on: 
Monday, February 1, 2021
Chemicals, Plastics, Other Construction & Property, Manufacturing, Commercial Building & Real Estate, Construction & Property, Building Systems, Economy, Companies, Finance, Cemex, LafargeHolcim, Forward-looking statement, Divestment, CX, Short

de C.V. (CEMEX) (NYSE: CX) announced today the divestment of certain assets in Southeastern France as part of its strategy to focus its portfolio development into high growth markets.

Key Points: 
  • de C.V. (CEMEX) (NYSE: CX) announced today the divestment of certain assets in Southeastern France as part of its strategy to focus its portfolio development into high growth markets.
  • CEMEX signed binding agreements to sell 24 concrete plants and 1 aggregates quarry in France to LafargeHolcim.
  • These assets are located in the Rhone Alpes region in the Southeast of France, east of CEMEX's Lyon operations, which the company will retain.
  • CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws.

Timothy H. Schott Named EVP – Finance & CFO

Retrieved on: 
Monday, January 4, 2021
Professional services, Finance, Finance, Economy, Deloitte, Companies, Schott AG, Schott Music, Divestment

Associated Capital Group (NYSE:AC) announced today that Timothy H. Schott has been named Executive Vice President Finance & Chief Financial Officer of Associated Capital Group.

Key Points: 
  • Associated Capital Group (NYSE:AC) announced today that Timothy H. Schott has been named Executive Vice President Finance & Chief Financial Officer of Associated Capital Group.
  • In this new position Mr. Schott will join as a member of the firms management committee and serve to head the Companys finance group.
  • Mr. Schott was formerly a partner of Deloitte & Touche where he began his career, and brings three decades of experience in financial reporting, tax compliance, acquisitions and divestitures.
  • Mr. Schott said, I am excited about the opportunity to contribute to Associated Capitals future success.

The Becker Milk Company Limited: Six Month Financial Results

Retrieved on: 
Thursday, December 10, 2020
Finance, Economy, Economy of Canada, System for Electronic Document Analysis and Retrieval, Divestment, BlackBerry Limited, Companies

The Board of Directors continually evaluates strategic directions for the Company and has engaged in discussions with potential acquirors.

Key Points: 
  • The Board of Directors continually evaluates strategic directions for the Company and has engaged in discussions with potential acquirors.
  • The Board has followed a programme of divesting less desirable sites, which has resulted in the sale of 21 investment properties over the past 6 years.
  • The Company continues to review its strategic alternatives and will update the market as appropriate, and as required.
  • The Companys interim financial statements for the six months ended October 31, 2020, along with the Managements Discussion and Analysis will be filed with SEDAR at www.sedar.com .

Cirrus Logic to Present at Barclays Global Technology, Media and Telecommunications Conference

Retrieved on: 
Tuesday, December 1, 2020
Technology, Other Technology, Telecommunications, Finance, Economy, Bionics, Ottobock, Cirrus, Divestment, Federal Trade Commission, Trade

Cirrus Logic, Inc. (Nasdaq: CRUS) today announced that President John Forsyth will present at the Barclays Global Technology, Media and Telecommunications Conference at 10 a.m. EST on Thursday, Dec. 10.

Key Points: 
  • Cirrus Logic, Inc. (Nasdaq: CRUS) today announced that President John Forsyth will present at the Barclays Global Technology, Media and Telecommunications Conference at 10 a.m. EST on Thursday, Dec. 10.
  • Cirrus Logic is a leader in low-power, high-precision mixed-signal processing solutions that create innovative user experiences for the worlds top mobile and consumer applications.
  • With headquarters in Austin, Texas, Cirrus Logic is recognized globally for its award-winning corporate culture.
  • Cirrus Logic and Cirrus are trademarks of Cirrus Logic, Inc.
    View source version on businesswire.com: https://www.businesswire.com/news/home/20201201005013/en/

Karo Pharma AB divests its Hospital Supply business, Swereco AB, to J2L Holding AB

Retrieved on: 
Monday, November 16, 2020
Batak Karo, Karo people, Divestment, Karo

HUDDINGE, Sweden, Nov. 16, 2020 /PRNewswire/ -- As previously announced, Karo Pharma AB ("Karo Pharma") has carried out a strategic evaluation of the Hospital Supply business unit, Swereco AB ("Swereco"), during the year, where a possible scenario involved a divestment.

Key Points: 
  • HUDDINGE, Sweden, Nov. 16, 2020 /PRNewswire/ -- As previously announced, Karo Pharma AB ("Karo Pharma") has carried out a strategic evaluation of the Hospital Supply business unit, Swereco AB ("Swereco"), during the year, where a possible scenario involved a divestment.
  • Karo Pharma, therefore, made the decision to divest Swereco and engaged Handelsbanken Capital Markets to run a formal divestment process.
  • Karo Pharma is pleased to have found a new and very suitable owner in J2L Holding AB ("J2L"), a Swedish private investment company, for Swereco.
  • Karo Pharma is convinced that Swereco has the best conditions for continued development and growth under J2L's ownership and stewardship, and that the divestment optimizes value for Karo Pharma's shareholders.

Philips provides update on its closing share price on Euronext Amsterdam on October 19, 2020

Retrieved on: 
Monday, October 19, 2020
Economy, Companies, Articles, Eindhoven, Philips, Videotelephony, Forward-looking statement, Divestment

Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions.

Key Points: 
  • Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions.
  • Philips generated 2019 sales of EUR 19.5 billion and employs approximately 81,000 employees with sales and services in more than 100 countries.
  • This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items.
  • Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips organic business and the completion of acquisitions and divestments.