The transaction is subject to approval by the Austrian competition authorities which is expected to take place end of October 2014.
The transaction is realized at book value. After finalization, the transaction will yield proceeds at approx. DKK 115 million ($19.5 million).
This will contribute to a reduction of the Group’s interest bearing debt, which, in combination with the Polish and Slovakian transaction announced on 16 July 2014 with expected closing early October 2014, will make DLH debt free.
“We succeeded in finding the right match for our Asian
and African Global Sales entities. For our shareholders this is an important step in realizing our divestment strategy. JAF is a re-spected privately owned Austrian timber company and on behalf of our employees I am pleased that they will obtain a good new ownership,” says Kent Arentoft, President and CEO.
JAF Group, with its 50 sites in 13 countries, has become central Europe’s leading wholesaler in wood and wood-based materials.
