K+S sells COMPO to investment company Triton / Closing of the transaction, with an enterprise value of € 205 million for COMPO, is expected to take place as early as this summer
The effective economic date of the transfer is 1 March 2011. The closing of the transaction, with an enterprise value of € 205 million for COMPO, is expected to take place as early as this summer. After the deduction of assumed liabilities, K+S expects a cash inflow of probably about € 150 million. The transaction is not subject to a financing condition. The sale is subject to approval by the EU antitrust authority. For K+S, the sale involves a book loss of about € 90 million in the second quarter of 2011. This and the net earnings of COMPO generated this year prior to the closing will from then on be stated as "discontinued operations". In financial year 2010, COMPO generated revenues of € 402.3 million and an EBITDA margin of approximately 4%.
The strategy of the K+S Group provides for growth in the Potash and Magnesium Products and the Salt business segments in particular and for focussing management resources and financial means on this correspondingly.
K+S Aktiengesellschaft
Kassel, 20 June 2011
The Board of Executive Directors