2 June 2010
Yule Catto & Co plc
Completion of disposal
Yule Catto & Co plc ("the Group") is pleased to announce that its joint venture subsidiary, Revertex (Malaysia) Sdn Bhd, has completed the sale of Revertex Finewaters Sdn Bhd to H B Fuller Company.
The disposal, announced on 12 March 2010, was conditional on approval from the Malaysian regulatory authorities, which has now been obtained.
The consideration of Malaysian Ringgit 55.6 million (£11 million) received by the Group for its 63% effective interest, representing an 8x multiple of EBITDA in 2009, has been used to reduce the Group's borrowings.
- Ends -
Enquiries:
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Yule Catto & Co plc |
Tel: 01279 442791 |
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Adrian Whitfield, Chief Executive |
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David Blackwood, Finance Director |
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Hogarth |
Tel: 020 7357 9477 |
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John Olsen |
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Andrew Jaques |
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Ian Payne |
This information is provided by RNS