K+S sells Compo private equity firm, Triton

K+S sells Compo to private equity firm, Triton

2:40 PM, 22nd June 2011
K+S sells Compo to private equity firm, Triton

KASSEL, GERMANY: K+S Aktiengesellschaft will sell its garden fertiliser unit Compo to the European private equity investor Triton. The effective economic date of the transfer is 1 March 2011. The closing of the transaction, with an enterprise value of € 205 million ($291.7 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. For K+S, the sale involves a book loss of about € 90 million in the second quarter of 2011. The sale is subject to approval by the EU antitrust authority.

“We are pleased to have found in Triton what we believe is a good new owner for Compo. With its commitment and its overall concept, Triton sent a clear signal for a positive future for the company,” said Norbert Steiner, Chairman, Board of Executive Directors, K+S Aktiengesellschaft.

The strategy of the K+S group provides for growth in potash and magnesium products and salt business segments in particular and for focussing management resources and financial means on this correspondingly. Against this backdrop, K+S started the examination of a sale of Compo last year.

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