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Ramirent Oyj Completes Divestment of Hungarian Operations

Wednesday, 18 Sep 2013 02:00am EDT 

Ramirent Oyj announced that the divestment of Ramirent’s Hungarian operations, announced on August 8, 2013, has been closed. The Company sold its operations in Hungary to the Danube SCA Sicar, a private equity fund. The transaction includes entire Hungarian operation with forecasted net sales for fiscal year 2013 of EUR 7 million. As stated in the previous announcement, the transaction will result in a non-recurring cost due to foreign exchange translation differences of approximately EUR 2 million, which will be recognized in other operating expenses in the third quarter of 2013. 

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