Assa Abloy: divests businesses with Agta Record
(CercleFinance.com) - Swedish lock and door maker Assa Abloy and agta record announce firm agreements with the Italian group FAAC on business divestments, to enable the lifting of conditions required by the European Commission relating to Assa Abloy's acquisition of the majority of agta record.
The disposals concern agta record's businesses in the Netherlands, Austria, Hungary and Slovenia, as well as the high-speed sliding door business in France. In addition, Assa Abloy is selling its automatic pedestrian door activities in France and the UK.
These divestments total 100 million euros on a cash and debt-free basis. Subject to the usual condition precedent, they are expected to be completed in the third quarter of 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The disposals concern agta record's businesses in the Netherlands, Austria, Hungary and Slovenia, as well as the high-speed sliding door business in France. In addition, Assa Abloy is selling its automatic pedestrian door activities in France and the UK.
These divestments total 100 million euros on a cash and debt-free basis. Subject to the usual condition precedent, they are expected to be completed in the third quarter of 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.