Brief: Nobia says to divest Poggenpohl
19/12/2016 13:40
Dec 19 (Reuters) - Nobia NOBI.ST
* Nobia to divest Poggenpohl
* Says sale includes all of Nobia's shares in Poggenpohl
Möbelwerke gmbh for a cash consideration corresponding to an
equity value of Eur 10 million
* Says sale will improve Nobia's profitability
* Says transaction is expected to be closed during Q1 of
2017
* Says has today agreed with German group Adcuram regarding
divestment of Poggenpohl
* Says transaction results in a non-cash write down of
around sek 460 million in Q4
* Says during January-September 2016, Poggenpohl has
reported net sales of SEK 749 million and an operating profit of
negative SEK 13 million. Nobia's EBIT margin excluding
Poggenpohl amounted to 10.5 per cent during the same period.
Poggenpohl was acquired by Nobia in 200
Source text for Eikon: ID:nWkrls4744
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