DUISBURG (dpa-AFX) - The steel trader Klockner & Co wants to divest parts of its distribution business in Europe. The national companies in France, Great Britain, the Netherlands and Belgium are to be sold to the Spanish company Hierros Anon, the company announced in Duisburg on Friday. The Spanish company had submitted an offer for this. The companies posted an operating loss in the first nine months.

According to Klockner, the transaction is expected to have a significantly positive impact on adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) from the 2024 financial year. In addition, the company expects a one-off negative effect on the Group's equity of around EUR 210 million. The equity ratio of Klockner & Co would probably rise to around 51 percent.

The sale is subject to the completion of information and consultation procedures with the relevant employee representatives as well as regulatory approvals. If the offer is accepted, the transaction is expected to be completed in the first half of 2024./nas/jha/