Dalhoff Larsen & Horneman A/S
DLH disposes of its Asian Global Sales entities in line with the strategy agreed upon

Dalhoff Larsen & Horneman A/S 

01.10.2014 17:46

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Dalhoff Larsen & Horneman A/S has today signed an agreement about the take-over
of its Asian Global Sales entities by the Austrian JAF Group. The divested
entities include DLH's activities in Hong Kong, China, Vietnam, Indonesia and
the African units. 

The annual revenue of the business unit sold is approx. DKK 600 million.

The transaction is subject to approval by the Austrian competition authorities
which is expected to take place end of October 2014. 

The transaction is realized at book value. After finalization, the transaction
will yield proceeds at approx. DKK 115 million. This will contribute to a
reduction of the Group's interest bearing debt, which, in combination with the
Polish and Slovakian transaction announced on 16 July 2014 with expected
closing early October 2014, will make DLH debt free. 

'We succeeded in finding the right match for our Asian and African Global Sales
entities. For our shareholders this is an important step in realizing our
divestment strategy. JAF is a respected privately owned Austrian timber company
and on behalf of our employees I am pleased that they will obtain a good new
ownership.', says Kent Arentoft, President, CEO. 

About JAF Group

Starting with its founding in 1948 at its home location in Stockerau/Austria,
the JAF Group, with its 50 sites in 13 countries, has become central Europe's
leading wholesaler in wood and wood-based materials. Behind the traditional
company are 66 years of competence in wood, an extensive network of branches
and an immense diversity in product. 


         For further information about this announcement, please contact Kent
Arentoft, President & CEO, on tel: +45 4350 0101.
News Source: NASDAQ OMX



01.10.2014 The DGAP Distribution Services include Regulatory Announcements,
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Language:     English
Company:      Dalhoff Larsen & Horneman A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0060038933
WKN:          
 
End of Announcement                             DGAP News-Service
 
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