French competition authority approves divestment of Hygena
As previously announced, Nobia signed an agreement for the sale of the Hygena kitchen chain to Fournier Group for a purchase consideration of EUR 20 million on a cash and debt-free basis.
The sale has now been approved by the French competition authority.
The transaction will take place on 2 March 2015 and its effects will be recognised together with Hygena’s operating result for the first two months of the year under the heading “Discontinued operations” in the income statement.
For 2014, the divestment of Hygena had a negative earning effect of SEK 487 million, attributable to the impairment of goodwill and deferred tax assets, and expenses related to the sale. For further details, refer to the interim report for the fourth quarter of 2014.
Nobia’s Continental Europe region will be renamed Central Europe region after the divestment of Hygena.
For further information:
Mikael Norman, CFO
+46 (0)8 440 16 09 or +46 (0)705 94 57 29
Nobia develops and sells kitchen solutions through some twenty strong brands in Europe, including Magnet in the UK, Hygena in France, HTH, Norema, Sigdal, Invita and Marbodal in Scandinavia and Petra, Parma and A la Carte in Finland, ewe, Intuo and FM in Austria, as well as Poggenpohl globally. Nobia creates profitability by combining economies of scale with attractive kitchen offerings. The Group has approximately 6,900 employees and sales of about SEK 12 billion in 2014. The share is listed on Nasdaq Stockholm under the ticker NOBI. Website: www.nobia.com