029 Group SE

M&A Activity • Feb 19, 2001

News Details

Ad-hoc | 19 February 2001 18:21

Ad hoc-Service: Armstrong DLW AG english

Ad-hoc announcement precessed and sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– ARMSTRONG ENTERS INTO TALKS WITH CVC CAPITAL PARTNERS ON SALE OF COMMERCIAL CARPET UNIT Bietigheim-Bissingen, Germany: Armstrong DLW AG said today that it had entered into talks with CVC Capital Partners on the purchase of the businesses in its Desso commercial carpet operations, which are expected to last several months. Desso, with approximately 1,300 employees worldwide, manufactures commercial carpet in The Netherlands, Germany and Belgium. Based in Oss, The Netherlands, Desso had annual sales of approximately 300 million Euros in 1999. “An acquisition by CVC would enable Desso to receive the investment it needs to grow and better serve its customers and employees,” said Armstrong DLW AG President and CEO Gerard L. Glenn. “Armstrong’s European flooring business is focused on resilient products, and indeed we would use the proceeds from a sale to grow this core business for us in Europe.” CVC Capital Partners, based in London, is a leading European private equity firm that has interests in more than 200 companies throughout the Continent with a total value of $30 billion. end of Ad hoc-announcement, (c) DGAP 19.02.2001 ———————————————————————– WKN: 551800; Index: Listed: Amtlicher Handel in Frankfurt, Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 191821 Feb 01