Rhj International SA Completes Sale Of Stake In Shaklee
Rhj International SA announced that it has completed the sale of a 39% stake in Shaklee via a share buyback transaction that it announced on May 15, 2013. The total gross proceeds from the transaction of JPY5,064 million translate to a Euro equivalent of EUR39.8 million, of which 20% has been deferred in the form of an interest bearing payment undertaking issued by Shaklee with a maturity of, at most, three years. The gross cash proceeds at the point of sale of EUR 31.8 million have been subject to withholding taxes of approximately EUR 2.8 million. Post transaction, RHJI maintains a 1.6% stake in Shaklee, which it will also look to divest.
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