Trelleborg’s divestment of shares in Vibracoustic finalized
Trelleborg has divested all its shares in Vibracoustic to Freudenberg. The transaction has received the necessary approval from relevant authorities.
A payment of about SEK 6.2 billion has been received as per July 5 2016. The remaining 10 percent of the purchase price is subject to Vibracoustic’s forecast sales performance in 2016 and 2017. Accordingly, the final consideration may be somewhat higher or lower than SEK 6.8 billion. In addition to the purchase price, Trelleborg received a dividend of approximately SEK 1.4 billion in December 2015.
The total purchase price of approximately SEK 6.8 billion will be reported as a receivable in the interim report for the second quarter 2016. The transaction will result in a capital gain of approximately SEK 4 billion, of which the full amount will increase Trelleborg’s equity.
The joint venture was formed in July 2012 by Trelleborg’s former business area Trelleborg Automotive and Freudenberg’s corresponding operation in antivibration solutions, Vibracoustic. The company was owned in equal shares by Trelleborg and Freudenberg and was renamed Vibracoustic in April 2016.
Press releases about the transaction were published on April 7 and April 15, 2016.