Imtech announces the successful completion of the sale of the Imtech ICT division to VINCI Energies. The Imtech ICT division is divested at an enterprise value of 255 million euro. This divestment is an important part of Imtech's debt reduction programme.
The immediate cash proceeds from the divestment are 188 million euro and will be used for enhancement of the liquidity position and for the debt reduction programme. The difference between the enterprise value and immediate cash proceeds relate to a 26 million euro guarantee deposit, customary finance adjustments and transaction costs.
The required regulatory clearance from competition authorities has been obtained and the customary closing conditions have been satisfied.
In 2013, the revenue of the ICT division amounted to 740 million euro and 2,380 staff were employed. The divesture of the ICT division will not have an impact on Imtech's value proposition for customers. Automation expertise and know-how in the field of amongst others building automation, infrastructure automation, telecommunication, industrial automation and technical automation are an integral part of the offered value proposition of the other Imtech divisions.
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| Dorien Wietsma Director Corporate Communication & CSR T: +31 182 54 35 53 E: dorien.wietsma@imtech.com (mailto:dorien.wietsma@imtech.com) www.imtech.com (http://www.imtech.com/) | Jeroen Leenaers Director Investor Relations T: +31 182 543 504 E: jeroen.leenaers@imtech.com (mailto:jeroen.leenaers@imtech.com) www.imtech.com (http://www.imtech.com/) |
Imtech profile
Royal Imtech N.V. is a European technical services provider in the fields of electrical solutions, automation and mechanical solutions. With approximately 23,000 employees, Imtech holds attractive positions in the buildings and industry markets in the Netherlands, Belgium, Luxembourg, Germany, Austria, Eastern Europe, Sweden, Norway, Finland, the UK, Ireland and Spain, the European market of Traffic as well as in the global marine market. Imtech offers integrated and multidisciplinary total solutions that lead to better business processes and more efficiency for customers and the customers they, in their turn, serve. Imtech also offers solutions that contribute towards a sustainable society - for example, in the areas of energy, the environment, water and traffic. Imtech shares are listed on the Euronext Amsterdam.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Imtech via Globenewswire
