RHJ International SA

EURONEXT BRUSSELS : RHJI
PINKSHEETS : RHJIF


June 27, 2013 01:10 ET

RHJI Completes Sale of Stake in Shaklee

BRUSSELS, BELGIUM--(Marketwired - Jun 27, 2013) - RHJ International ("RHJI") has today successfully completed the sale of a 39% stake in Shaklee via a share buyback transaction that it announced on May 15, 2013. The total gross proceeds from the transaction of JPY 5,064 million translate to a Euro equivalent of Euro 39.8 million, of which 20% has been deferred in the form of an interest bearing payment undertaking issued by Shaklee with a maturity of, at most, 3 years. The gross cash proceeds at the point of sale of EUR 31.8 million have been subject to withholding taxes of approximately EUR 2.8 million. Post transaction, RHJI maintains a 1.6% stake in Shaklee, which it will also look to divest.

This divestment represents one of the last disposals from RHJI's legacy industrial portfolio, with the remaining holdings now representing less than 3% of the overall investment portfolio.

About RHJ International

RHJ International is a financial services group with principal activities in wealth management, asset management and merchant banking. Our wealth management operations are conducted through Kleinwort Benson: an independent and relationship-driven private bank. RHJI's asset management operations are carried out through Kleinwort Benson Investors: a Dublin-based institutional asset manager that offers investors innovative and differentiated specialist strategies on both a segregated and unitised basis. RHJI is listed on Euronext Brussels, with the ticker symbol "RHJI"

Full Press Release (PDF):

http://hugin.info/135946/R/1712159/568201.pdf

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Source: RHJ International SA via Thomson Reuters ONE

[HUG#1712159]

Contact Information

  • For further information, please contact:

    Duncan Heath
    Investor Relations Director
    RHJ International
    Tel: +32 2 643 6013
    E-mail: Email Contact