Kme Group

M&A Activity • Feb 28, 2022

Informazione Regolamentata n. 0240-15-2022		Data/Ora Ricezione 28 Febbraio 2022 18:36:18	Euronext Milan
Societa'	:	INTEK GROUP
Identificativo Informazione Regolamentata	:	157855
Nome utilizzatore	:	SMIN02 - Mazza
Tipologia	:	3.1
Data/Ora Ricezione	:	28 Febbraio 2022 18:36:18
Data/Ora Inizio Diffusione presunta	:	28 Febbraio 2022 18:36:19
Oggetto	:	KME Mansfeld completes the sale of its wires business to Elcowire Group AB
Testo del comunicato

Vedi allegato.

Registered Office: 20121 Milan (MI) Foro Buonaparte, 44 Share Capital: Euro 335,069,371.08, fully paid-in Milan Company Register – Tax I.D. Nr. 00931330583 www itkgroup.it

PRESS RELEASE

KME MANSFELD COMPLETES THE SALE OF ITS WIRES BUSINESS TO ELCOWIRE GROUP AB

Milan, 28th February 2022 ‐ Following up to its press release published on 18th November 2021, Intek Group S.p.A. informs that today its subsidiary KME Mansfeld GmbH ("KME"), an operating company of KME Group, has executed the agreement signed with Elcowire Group AB, after receiving the competition authority clearances. So, KME has completed the sale of its Wires business, which has been contributed to a Newco (the "Newco") before closing.

The execution of the agreement allows KME to cash in for the sale of 100% of Newco shares ‐ together with the relevant real estate ‐ an overall amount of € 20 million plus the value of the metal stock existing in the Newco at closing.

The Wires business recorded in 2021 a turnover of around € 87 million employing around 190 people in Hettstedt.

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The press release is available on the Company's website, www.itkgroup.it. Additional information may be directly requested from the Company (telephone number +39.02.806291; e.mail: info@itk.it) and through the "eMarket STORAGE" system operated by Spafid Connect SpA at the address: .