MENU
Menu
Share 2016-09-28 17:29 RATOS B 40.31 SEK

Ratos majority owner of DIAB

2009-02-02

Ratos has concluded an agreement to acquire up to an additional 48% in its associate DIAB. The seller is 3i and the purchase price for the shareholding amounts to approximately SEK 400m. As a result of this acquisition, DIAB will become a subsidiary of Ratos which will have a holding of up to 96%.
 
DIAB is a world-leading company that manufactures and develops core materials for composite structures. Key applications include blades for wind turbines, hulls and decks for boats, and components for aircraft, trains, buses and rockets. The material has a unique combination of characteristics such as low weight, high strength, insulation properties and chemical resistance.
 
Ratos became an owner of DIAB in 2001. Since then the company has seen strong growth and sales have risen from SEK 693m to SEK1,345m in 2007 and operating profit (EBITA) from SEK 81m to SEK 260m.
 
"It is gratifying that we now have this opportunity to invest further in DIAB, which in our opinion continues to have excellent development potential and the ability to well meet Ratos's high return requirements. Add-on investments in existing holdings that we know well are among the best investments we can make," says Ratos CEO Arne Karlsson commenting on today's deal.
 
The seller 3i is divesting its entire holding of 48% in DIAB to Ratos and the company's minority owners. Depending on the size of the offering subscribed by minority owners, Ratos will acquire between 43-48%, which means that Ratos's holding will increase from today's 48% to between 91-96%. As a result of today's deal, the consolidated book value of Ratos's holding in DIAB will increase by up to SEK 400m.
 
The add-on acquisition in DIAB is subject to approval from the relevant competition authorities.
 
For further information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 00
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46 8 700 17 63