RHJ International Announces Divestitures

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Algemeen advies 20/06/2008 06:51
RHJ International (NYSE-EURONEXT: RHJI) announced today that it has agreed to tender its 49% interest in D&M Holdings Inc. ("D&M") to the take over bid to be launched by K.K. BCJ-2, a corporation owned by investments funds advised by Bain Capital Partners, LLC, at a purchase price of JPY 510 per share in cash. This transaction is subject to certain conditions including minimum acceptance levels.

In addition to the sale of its ownership interest in D&M, RHJI also disposed of a minority interest in a company active in a related industry.

Both disposals will generate total cash proceeds to RHJI of JPY 32,147 million (EUR 192 million), yielding an aggregate net capital gain of JPY 15,832 million (EUR 95 million).

Co-Chief Executive Officer, Leonhard Fischer commented that "these disposals are consistent with our stated intention to unlock shareholder value and to reinforce our cash position to pursue larger investment opportunities that will generate significant value in the future. We are currently actively pursuing a number of financial services opportunities which may utilize all or part of the proceeds".

RHJ International (Euronext: RHJI) is a diversified holding company focused on creating long-term value for its shareholders by acquiring and operating businesses in attractive industries. For further information visit www.rhji.com




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