May 9, 2019 / 3:55 PM / 2 months ago

BRIEF-Nibe Group Is Divesting Schulthess Maschinen AG And Becomes The Majority Shareholder In A New Ownership Structure

May 9 (Reuters) - Nibe Industrier AB:

* REG-THE NIBE GROUP IS DIVESTING SCHULTHESS MASCHINEN AG AND BECOMES THE MAJORITY SHAREHOLDER IN A NEW OWNERSHIP STRUCTURE

* SAYS DIVESTING 100% OF SHARES IN SCHULTHESS MASCHINEN AG, TO VALUE OF 150 MCHF ON A CASH AND DEBT FREE BASIS, TO A NEWLY REGISTERED SWISS HOLDING COMPANY, HC HOLDING ETA AG

* SAYS OTHER THAN TRANSACTION COSTS OF APPROXIMATELY 3,5 MCHF, WHICH WILL OCCUR IN Q2, TRANSACTION WILL HAVE NO SIGNIFICANT EFFECT ON NIBE GROUP'S CONSOLIDATED REVENUE AND RESULT

* SAYS BUT IT WILL STRENGTHEN CASH POSITION WITH WELL OVER 100 MCHF Source text for Eikon: Further company coverage: (Reporting by Stockholm Newsroom)

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