Outokumpu sells real estate in Germany
by Hans Diederichs
The value of the transaction is EUR 90 million. The deal is expected to be closed in the third quarter and the cash proceeds will be used to reduce debt. The positive impact on EBITDA from the transaction is expected to be approximately EUR 68 million which will be reported as an adjustment in the third-quarter results. - The sold land has been unused since 2016 when Outokumpu closed its cold rolling operations in Dusseldorf-Benrath as part of the restructuring of the company’s European operations.
Source and photo: Outokumpu