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Kme Group
Regulatory Filings • Jan 31, 2022
4070_tar_2022-01-31_467bbca6-77f6-4b67-bac3-b54228d2bd21.pdf
Regulatory Filings
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| Informazione Regolamentata n. 0240-5-2022 |
Data/Ora Ricezione 31 Gennaio 2022 23:41:58 |
Euronext Milan | |
|---|---|---|---|
| Societa' | : | INTEK GROUP | |
| Identificativo Informazione Regolamentata |
: | 156963 | |
| Nome utilizzatore | : | SMIN02 - Mazza | |
| Tipologia | : | 3.1 | |
| Data/Ora Ricezione | : | 31 Gennaio 2022 23:41:58 | |
| Data/Ora Inizio Diffusione presunta |
: | 31 Gennaio 2022 23:42:00 | |
| Oggetto | : | KME Group completes the transfer of control of special business to Paragon |
|
| Testo del comunicato |
Vedi allegato.
Registered Office: 20121 Milan (MI) Foro Buonaparte, 44 Share Capital: Euro 335,069,287.51, fully paid-in Milan Company Register – Tax I.D. Nr. 00931330583 www itkgroup.it
PRESS RELEASE
KME GROUP COMPLETES THE TRANSFER OF CONTROL OF SPECIAL BUSINESS TO PARAGON
Milan, 31st January 2022 ‐ Following up to its press release published on 18th December 2021, Intek Group S.p.A. informs that its subsidiaries KME SE and KME Special Products GmbH & Co. KG (together "KME Group") have executed the agreement signed with The Paragon Fund III ("Paragon"), after fulfillment of the conditions precedent envisaged therein, and has therefore completed the transfer of control of the Special Business of KME Group to Paragon, by means of a contribution of such a Business to a newco ("Newco") owned 55% by Paragon and 45% by KME Group.
The execution of the agreement allows KME Group to cash in an amount of around € 200 million after the repayment of around € 20 million of intragroup working capital facilities and after having provided a € 32 million shareholder loan (the "KME vendor loan") to Newco.
The transaction with Paragon contributes significantly to KME Group target of a progressive deleveraging. At the same time, KME Group will be able to participate in the future growth of the Specials business under the new Paragon‐led ownership structure.
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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: [email protected]) and through the "eMarket STORAGE" system operated by Spafid Connect SpA at the address: .