RHJ International SA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Rhj International SA Announces Sale of Stake in Shaklee Global Group Inc
Rhj International SA announces that it has entered into an agreement with Shaklee Global Group Inc to sell a 39% stake in Shaklee via a share buyback transaction. The sales price of JPY500 per share is in line with the share price underlying the current carrying value and translates into gross proceeds of JPY5,064 million. The corresponding amount in Euro terms of EUR38.2 million is lower than the current carrying value of the stake in Shaklee, principally reflecting adverse movements in the exchange rate between the Japanese Yen and the Euro. On closing, the expected gross cash proceeds from the transaction will be EUR30.6 million. These proceeds will be subject to withholding taxes of approximately EUR2.7 million. The remaining 20% of the gross consideration will be deferred in the form of an interest bearing payment undertaking issued by Shaklee with a maturity of, at most, three years. Post transaction RHJI will maintain a 1.6% stake in Shaklee.
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