The NIBE Group is divesting another 26% of Schulthess Maschinen AG (‘Schulthess’) by
selling the corresponding share of the owner company HC Holding Eta AG. Through this transaction NIBE will become a minority shareholder in the company with its remaining 25% shareholding.
The transaction is entirely in line with the divestment process started in 2019, which entails a gradual divestment of the NIBE Group´s washing technology, equipment and systems operations. In 2019, NIBE sold 100% of its shares in Schulthess to the new Swiss owner company HC Holding Eta AG and at the same time became the majority shareholder of this company with a 51% holding. Helvetica Capital AG and its Swiss entrepreneurial investors, along with the management of Schulthess, acquired the remaining 49% of the shares in the owner company.
The divestment of another 26% of Schulthess will generate an estimated capital gain in the magnitude of SEK 170 million in the second quarter for the NIBE Group. As a consequence, Schulthess will no longer be consolidated into the NIBE Group.
Schulthess has been a subsidiary of the NIBE Group since the acquisition of the listed Swiss Schulthess Group AG in April 2011, within which Alpha Innotec GmbH, the leading heat pump company in the German market, constituted the largest part and thus the reason for the acquisition.
For more information:
Gerteric Lindquist, CEO and Hans Backman, CFO; +46 (0) 433-27 30 00.
This information was submitted by the contact persons above for publication on 30 June 2022 at 11.45 CEST.