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KME GROUP COMPLETES THE SALE TO HAILIANG GROUP OF ITS EUROPEAN BRASS RODS BUSINESS AND ITS TUBES BUSINESS BASED IN GERMANY AND SPAIN


Osnabrück, April 1, 2019
- Following up to its press release published on January 28, 2019, KME SE informs that it has executed the agreement signed with Zhejiang Hailiang Co. Ltd, after fulfillment of the conditions precedent envisaged therein, and has therefore completed the sale of its brass rods business based in Germany, Italy and France, as well as its tube business based in Germany and Spain.

The execution of the contract allowed the net collection of around Euro 88 million corresponding to the sale price of Euro 119 million, plus working capital and reimbursement of intercompany payables outstanding at closing, after deduction of the mandatory repayments of the working capital credit lines utilizations relating to the sold perimeter.

KME - Engineering Copper Solutions