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SGL Group to sell its cathodes, furnace linings, and carbon electrodes (CFL/CE) business to Triton for €230M cash

9 August 2017

SGL Carbon Holdings BV, a subsidiary of SGL Carbon SE, signed the sale and purchase agreement to sell SGL Group’s cathodes, furnace linings, and carbon electrodes (CFL/CE) business to funds advised by Triton. The two parties have agreed on an enterprise value (cash and debt free) of €250 million, which, after deduction of standard debt-like items (mainly pension provisions) as well as other customary adjustments, results in cash proceeds of more than €230 million.

The final proceeds will be determined based on the balance sheet at closing. The transaction is subject to customary closing conditions, mainly relating to antitrust approvals. Closing is expected in the fourth quarter 2017.

The SGL Group is a leading manufacturer worldwide of products and materials made from carbon. The extensive product portfolio ranges from carbon and graphite products, carbon fibers all the way through to composites.

The SGL Group’s products are deployed in the automotive and chemicals industries as well as in the semiconductor, solar, LED industry segments and in the field of lithium-ion batteries. Carbon-based materials and products are also used in wind energy, aviation and space travel as well as in the defense industry.

August 9, 2017 in Brief | Permalink | Comments (0)

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