Agta record : sells five businesses in relation to the ASSA ABLOY transaction

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agta record sells five businesses in relation to the ASSA ABLOY transaction

Media Release: Fehraltorf, 29 June 2020 agta record and ASSA ABLOY entered into binding agreements with Italy based FAAC group for the sale of certain agta record and ASSA ABLOY businesses. These divestitures are part of the commitments to address the competition concerns of the EU Commission in connection with the acquisition of agta record by ASSA ABLOY.

The divestments encompass the agta record businesses in the Netherlands, Austria, Hungary and Slovenia, as well as the agta record high-speed door business located in France. In addition, ASSA ABLOY is divesting its automatic pedestrian door businesses in France and the UK. The divested businesses had combined turnover of approximately EUR 93 million in 2019, representing about 20% of total initial added revenue. The selling price for the divested businesses is EUR 100 million on a cash and debt free basis.

The divestitures are subject to customary closing conditions and are expected to close during the third quarter of 2020.

The acquisition of agta record by ASSA ABLOY is expected to close during July 2020 after all remaining closing conditions and the EU Commission requirements have been fulfilled.

Additional information, particularly with regard to the closing of the acquisition of agta record by ASSA ABLOY and the subsequent tender offer by ASSA ABLOY for the remaining agta record shares, will be communicated as soon as possible.

About agta record

Ranking among the top players in the global market for automatic pedestrian doors, agta record calls on its integrated technological and commercial know-how. The Group's extensive expertise covers the design, production, marketing, installation and maintenance of a large range of automatic doors. Headquartered in Switzerland, agta record sells its products and services across the globe and is directly present with subsidiaries in 17 countries. agta record is listed on Euronext Paris, foreign stocks. ISIN: CH0008853209

Contact agta record ltd - Hubert Jouffroy - Chairman of the Board - Tel. +33 6 07 44 56 12 mail:info@record.group- web: www.record.group

agta record ltd - Allmendstrasse 24 - 8320 Fehraltorf - Switzerland mail:info@record.group- web: www.record.group

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