Lehto Group Plc
14 June, 2022 at 3.00 p.m. (EET)
The sale of Lehto’s pipeline renovation business to Renevo Group Oy has been completed today. Lehto has received an initial purchase price of approximately EUR 32 million in cash. The transaction comprised the entire share capital of Remonttipartio Oy, a wholly owned subsidiary of Lehto, including approximately EUR 2,8 million cash reserves.
The initial purchase price is later adjusted by amount that is based on cash reserves, interest bearing debt and net working capital on the transaction date.
Pipeline renovation business will be presented as discontinued operation in the IFRS consolidated income statement for January-June 2022, which will be published later. The transaction will result in a non-recurring positive impact of approximately EUR 30 million on the Group’s net income and equity, and a non-recurring positive impact of approximately EUR 29 million on net cash flow. Lehto announced the transaction in its stock exchange release on 28 April, 2022.
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