M&A Activity • Apr 21, 2023
M&A Activity
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21.4.2023 09:00:00 EEST | Reka Industrial Oyj | Other information disclosed according to the rules of the Exchange
21.4.2023 09:00:00 EET | Reka Industrial Plc | Other information disclosed according to the rules of the Exchange
The Finnish Competition and Consumer Authority ("FCCA") has given on 20 April 2023 its final and unconditional approval regarding the sale of all outstanding shares in Reka Industrial Plc's ("Reka Industrial") wholly owned subsidiary Reka Cables Ltd to Nexans Group ("Nexans"). As announced by Reka Industrial on 10 November 2022, the transaction was conditional to the approval of the Extraordinary General Meeting and approvals by the competent regulatory authorities. All needed approvals from the authorities have now been received. The Extraordinary General Meeting approved the transaction on 15 December 2022.
Hyvinkää, 21 April 2023
Reka Industrial Plc
The Board of Directors
Additional information:
Jukka Poutanen, Managing Director, tel. +358 40 833 9007
Markku E. Rentto, Chairman of the Board of Directors, tel. +358 40 500 1858
All comments in this report that do not refer to actual facts are future estimates. Such estimates include expectations concerning market trends, growth and profitability as well as statements including the words "believe", "assume" or "will be" or a similar expression. Since these estimates are based on current plans and estimates, they involve risks and uncertainty factors that may cause the actual results to differ substantially from current statements.
Among other things, such factors include 1) operating conditions, such as continued success in production and the ensuing efficiency benefits, availability and cost of production inputs, demand for new products and changes in circumstances affecting the acquisition of capital under acceptable conditions; 2) sector-specific circumstances, such as the intensity of demand for products, the competition, current and future market prices for the Group's products and related pricing pressures, the financial situation of the Group's customers and competitors and competitors' possible new products; and 3) the general economic situation, such as economic growth in the Group's main market areas and change in exchange rates and interest rates.
Figures in brackets refer to the same period a year earlier, unless otherwise stated.
Reka Industrial is involved in the transition of both the energy and transport industries. As an industrial family company, we are committed to developing the performance and sustainability of the companies we own. The market is growing and we along with it. Reka Industrial class B shares are listed on the Nasdaq Helsinki Ltd.
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