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AT&S Completes Sale of Ansan Plant in Korea to SO.MA.CI.S. S.p.A.
February 3, 2025 | AT&SEstimated reading time: Less than a minute
AT&S and SO.MA.CI.S. S.p.A. have successfully closed the sale of all AT&S shares in AT&S Korea CO., LTD. (and thus the plant in Ansan, Korea) to SO.MA.CI.S.
“We are pleased that with SO.MA.CI.S. we have found a new owner who sees the further potential of the plant and will leverage it,” explains Peter Schneider, Spokesman of the Management Board. “The sale has enabled us to further sharpen our strategic profile, and the cash inflow from the sale will strengthen our financial position,” emphasizes CFO Petra Preining.
The purchase price (equity value) amounts to € 405 million plus around € 17 million in interest income (equity ticker). Management expects the transaction to result in a cash inflow of € 386 million after deduction of taxes, of which € 79 million has already been received in the form of dividend payments and an advance payment as of December 31, 2024. The ratio of net debt to EBITDA will thus be reduced to below 3.
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