Jan 30, 2013. /Lesprom Network/. Sofinim has agreed to sell its 72.92% participation in Spano Invest to Unilin. In parallel with this transaction Spano has agreed to sell its 50% participation in Trinterio to its joint venture partner Balta. Unilin would thus acquire a.o. the business consisting of the production of particle board and melamine board, as the company said in a press release received by Lesprom Network. Balta would acquire full control over the mdf- and laminate production of Trinterio in Vielsalm and has also agreed to sell 100% of Trinterio to IVC Group, a specialist vinyl flooring company. The transactions are subject to regulatory approval and to other customary conditions precedent. The closing of these transactions is expected to take place in the course of the 2Q or 3Q 2013. In the financial year 2011, Spano Invest generated sales of more than Euro 237 million, an EBITDA of approximately Euro 34 million and a net result of Euro 7.6 million. Since the acquisition of Spano Invest by Sofinim in 2007, the company managed to maintain a profitable level of turnover despite the economic downturn in the construction sector which started in 2008. Over the last 6 years, the Spano Group commissioned the 25 MW green electricity production facility of A&S Energie, successfully acquired B&M (80%) and Dynea (100%) thereby expanding both horizontally (lacquered wood-based panels) and vertically (resins and glue for wood-based boards), and supported the strong growth of the Trinterio joint venture together with Balta. Sofinim believes both transactions are in the interest of the Spano Group as its management, personnel and activities would join two solid industrial groups which are well equipped to face the challenges in the construction and flooring industries. Depending on the timing of closing, AvH expects to realize a capital gain on this transaction in excess of Euro 30 million.