The acquisition of Reka Industrial's associate company Nestor Cables has been completed
2.8.2022 14:00:00 EEST | Reka Industrial Oyj | Inside information
The acquisition of Reka Industrial's associate company Nestor Cables has been completed
Reka Industrial announced in May that the US-based Clearfield Inc. has entered into an agreement to acquire the entire share capital of Nestor Cables Oy. Reka Industrial's share of Nestor Cables Oy's shares has been 22.94%.
The total value of the arrangement was reported in May to be approximately USD 22 million, including the restructuring of Nestor Cables' financing.
The transaction has now been completed in its entirety according to the previously estimated schedule. As a result of the overall arrangement of the deal, Reka Industrial received EUR 2.4 million in cash and the impact on the third quarter's result is approximately EUR 1.4 million.
As a subsidiary of Clearfield, Nestor Cables continues to serve its customers in Finland and other European countries.
Hyvinkää, 2 August 2022
Reka Industrial Plc
The Board of Directors
Additional information:
Jukka Poutanen, Managing Director, tel. +358 40 833 9007
About Reka Industrial Oyj
Reka Industrial is involved in the transition of both the energy and transport industries. As an industrial family company, we are committed to developing the performance and sustainability of the companies we own. The market is growing and we along with it. Reka Industrial class B shares are listed on the Nasdaq Helsinki Ltd.
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