SOURCE: RHJ International SA

February 23, 2011 01:36 ET

RHJ International Announces Signing of a Share Purchase Agreement with Valeo for its Ownership in Niles Co. Ltd.

BRUSSELS, BELGIUM--(Marketwire - February 23, 2011) -

RHJ International ("RHJI") announces today that it has entered into an agreement to sell its 77.9% ownership in Niles Co. Ltd. ("Niles") to Valeo for a total cash consideration of JPY 15.5 billion (EUR 138 million), subject to closing adjustments. This transaction values Niles at a total enterprise value of JPY 36 billion (EUR 320 million).

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

"Today's announcement represents one more step in RHJI's transformation from an industrial holding into a dynamic financial services group. We will continue to seek opportunities to gradually exit our legacy industrial investments overtime with a view to capitalize on growth opportunities in financial services supporting the independent merchant banking model using the Kleinwort Benson brand."

The completion of the transaction is subject to customary industry terms and conditions, including regulatory approval and is foreseen to be concluded within the first half of 2011.

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

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):

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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
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