Fulda, 06 March 2022 – KAP AG announces that the company and its subsidiary Mehler AG have today entered into an agreement to sell a subsection of the flexible films segment to Kingspan Holding GmbH, a company of Kingspan Group Plc., Ireland. The operating companies to be divested are CaPlast Kunststoffverarbeitungs GmbH with its investee AerO Coated Fabrics B.V. and Now Contec GmbH & Co. KG.
The net sale proceeds are in the upper double-digit million euro range. The divestment will result in significant book gains for the KAP Group. Closing of the transaction is subject to the approvals by the relevant regulatory authorities. The transaction is expected to be closed in the second quarter of 2023.
The Management Board
Notifying officer and investor relations contact
Kai Knitter
Head of Investor Relations & Corporate Communications
investorrelations@kap.de
+49 (0) 661 103 327