RHJ International SA
Brussels : RHJI

June 30, 2011 11:50 ET

RHJ International Announces Closing the Sale of its Ownership in Niles Co. Ltd. to Valeo

BRUSSELS, BELGIUM--(Marketwire - Jun 30, 2011) -

Brussels, June 30, 2011 - RHJ International ("RHJI") announces today the closing of the sale of its 77.9% ownership in Niles Co. Ltd. ("Niles") to Valeo for a total cash consideration of JPY 15.4 billion (EUR 135 million). This transaction values Niles at a total enterprise value of JPY 36 billion (EUR 313 million). As customary, the final purchase price will be determined post closing based on actual June end net debt and working capital.

RHJ International's Chief Executive Officer, Leonhard Fischer, commented:

"We are pleased to announce the closing of this transaction which represents one more step in RHJI's transformation from an industrial holding into a dynamic financial services group. This further strengthens RHJI's liquidity and provides the opportunity to redeploy capital in growth opportunities in financial services supporting the independent merchant banking model using the Kleinwort Benson brand."

About RHJ International:

RHJ International (Euronext: RHJI) is a limited liability company incorporated under the laws of Belgium, having its registered office at Avenue Louise 326, 1050 Brussels, Belgium. RHJI is transforming itself from a diversified industrial holding company into an active and dynamic financial services group. For further information visit:www.rhji.com.

This press release contains certain forward-looking statements concerning the Company's operations, economic performance and financial condition. Such forward-looking statements are based on management's current expectations, estimates and projections and are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company has no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release.

Full Press Release (PDF): http://hugin.info/135946/R/1527301/463087.pdf

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Source: RHJ International SA via Thomson Reuters ONE


Contact Information

  • For further information please contact:

    Arnaud Denis
    Investor Relations Director
    Tel: +32 2 643 60 13
    E-mail: Email Contact