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Leoni AG
ISIN: DE0005408884
WKN: 540888
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Leoni AG · ISIN: DE0005408884 · EQS - adhoc news (36 News)
Country: Germany · Primary market: Germany · EQS NID: 1237450
01 October 2021 11:01AM

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


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.


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 € 430 million in fiscal year 2020 and are valued with an enterprise value of around € 450 million. The expected cash inflow of more than € 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 € 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


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


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

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This publication was provided by our content partner EQS3.

EQS Newswire
via EQS - Newsfeed
EQS Group AG ©2025
(DGAP)
Contact:
Karlstraße 47 D-80333 München
+49 (0) 89 444 430-000

 

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