MUEHLHAN AG (FRA:M4N) Muehlhan AG: Contract concluded for the sale of Gerüstbau Muehlhan GmbH and adjustment of Muehlhan AG's forecast for the 2021 financial year
Transparency directive : regulatory news
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DGAP-Ad-hoc: Muehlhan AG / Key word(s): Change in Forecast/Disposal Publication of Inside Information in Accordance with Article 17 MAR Muehlhan AG: Contract concluded for the sale of Gerüstbau Muehlhan GmbH and adjustment of Muehlhan AG's forecast for the 2021 financial year Hamburg, July 30, 2021-Muehlhan AG (Open Market; ISIN DE000A0KD0F7; WKN A0KD0F) hereby announces that it has today concluded a purchase agreement with Brand Energy & Infrastructure Services GmbH for the sale of all shares in Gerüstbau Muehlhan GmbH. The agreed purchase price (enterprise value) is approximately €28 million. With Brand Energy & Infrastructure Services GmbH, a buyer has been found who intends to further expand its strategic position in European scaffolding projects through the acquisition of Gerüstbau Muehlhan GmbH. The conclusion of the purchase agreement remains, in particular, subject to clearance by the Bundeskartellamt (German Federal Cartel Office) as part of the statutory merger control proceedings. Without the sale, the Executive Board and Supervisory Board of Muehlhan AG expect year-over-year revenues and earnings from operations to recover in 2021, as long as the coronavirus restrictions that have currently been largely lifted are not reintroduced in the short term. The revenues (€295.3 million) and results (EBIT of €12.4 million) of 2019 will not be achieved. The deconsolidation result from the sale of Gerüstbau Muehlhan GmbH of approximately €15 million to €20 million will be added to the operating result. The deconsolidation result is expected to be realized in the second half of 2021. You can request further information from: About Muehlhan: Worldwide, Muehlhan Group is a reliable partner in industrial services. As one of the few full-service providers, we offer our customers a broad spectrum of industrial services with professional industrial quality standards. Our customers benefit from our exceptional organizational skills, on-time delivery, the technical expertise that differentiates us from our competitors, and our more than 135 years of experience. We have an established market presence in the four business segments in which we operate: Ship, Renewables, Oil & Gas and Construction/Infrastructure. Muehlhan AG is a listed company and is traded on the Open Market under ISIN DE000A0KD0F7 / WKN A0KD0F. You can find additional information at www.muehlhan.com Contact: Muehlhan AG; phone: +49 40 75271-0; e-mail: investorrelations@muehlhan.com
30-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Muehlhan AG |
| Schlinckstrasse 3 | |
| 21107 Hamburg | |
| Germany | |
| Phone: | +49 40 75271 0 |
| Fax: | +49 40 75271 130 |
| E-mail: | investorrelations@muehlhan.com |
| Internet: | www.muehlhan.com |
| ISIN: | DE000A0KD0F7 |
| WKN: | A0KD0F |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1223110 |
| End of Announcement | DGAP News Service |
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1223110 30-Jul-2021 CET/CEST