Alfa Laval proposes to buy all outstanding shares in Alfa Laval India Ltd and seek delisting
Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – aims to obtain full ownership of its subsidiary Alfa Laval India Ltd and seek delisting of the shares from the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited.
The proposal comes on the back of regulatory changes in India which requires Alfa Laval India Ltd to have a minimum public float of 25 percent, or seek delisting. At present, Alfa Laval holds 88.8 percent of the share capital of Alfa Laval India, meaning the public float is 11.2 percent. The objective is to achieve full ownership of the subsidiary, which will provide Alfa Laval with increased operational flexibility to support the business and meet the customers’ needs.
Alfa Laval has requested that the Board of Directors of Alfa Laval India Ltd. take all actions required under the delisting regulations, including convening a meeting of the shareholders to consider the delisting proposal.
The delisting process is expected to take approximately three months.
Alfa Laval discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on September 19th at 08:30 a.m.
About Alfa Laval
Alfa Laval is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling.
The company’s equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce food and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol.
Alfa Laval’s products are also used in power plants, aboard ships, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration applications.
Alfa Laval’s worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena.
Alfa Laval is listed on the Nordic Exchange, Nordic Large Cap, and, in 2010, posted annual sales of about SEK 24.7 billion (approx. 2.6 billion Euros). The company has 12 600 employees.
For more information please contact:
Peter Torstensson
Senior Vice President, Communications
Alfa Laval
Tel: + 46 46 36 72 31
Mobile: +46 709 33 72 31
Gabriella Grotte
Investor Relations Manager
Alfa Laval
Tel: +46 46 36 74 82
Mobile: +46 709 78 74 82