Continued execution of GN's capital plan generating net proceeds of DKK ~500m
Today, GN has successfully completed the divestment of BelAudição, Unipessoal Lda ("BelAudição") to MCH Private Equity, bringing in net proceeds of DKK ~500 million. Following the announcement on June 28, 2023, the buyer has obtained anti-trust clearance and completed financing.
The transaction demonstrates GN's commitment to its successful strategy of not owning retail and instead focus on being a key supplier to strong independent hearing aid dispensers. Further, the divestment is an important milestone in GN's capital plan to strengthen the capital structure where proceeds from selected asset disposals amount to DKK 1-2 billion. The divestment of BelAudição contributes DKK ~500 million of that target.
Søren Jelert, GN Group CFO, says: "We are very pleased to finalize the divestment of BelAudição, which is an important step in executing our capital plan while ensuring that BelAudição has strong backing to continue their successful growth journey with GN Hearing as a key supplier."
For further information, please contact:
Investor Relations
Anne Sofie Staunsbæk Veyhe +45 45 75 85 06
Rune Sandager +45 45 75 92 57
Media Relations
Steen Frentz Laursen +45 20 65 34 20
About GN
GN brings people closer through our leading intelligent hearing, audio, video, and gaming solutions. Inspired by people and driven by innovation, we deliver technology that enhance the senses of hearing and sight. We help people with hearing loss overcome real-life challenges, improve communication and collaboration for businesses, and provide great experiences for audio and gaming enthusiasts.
GN was founded more than 150 years ago with a vision to connect the world. Today, inspired by our strong heritage, GN touches more lives than ever with our unique expertise and the broadest portfolio of products and services in our history - bringing people closer to what is important to them.
We market our solutions with the brands Jabra, ReSound, SteelSeries, Beltone, Interton, BlueParrott, Danavox, and FalCom in 100 countries. Founded in 1869, GN Group employs more than 7,500 people and is listed on Nasdaq Copenhagen (GN.CO).
Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and https://twitter.com/gnstorenord
