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Saft Groupe SA Receives Firm Commitment to Acquire its Small Nickel Battery Business in Nersac, France

Friday, 11 Jan 2013 02:45am EST 

Saft Groupe SA (Saft) announced that it received a firm offer at the end of 2012 from Fin’Active, a French investment company to acquire its Small Nickel Battery (SNB) business based in Nersac, France. Saft has given exclusivity to Fin’Active and has begun the consultation process with the workers council. Once this process is finalised, Fin’Active will acquire the Small Nickel Battery business and its entire workforce of around 340 people. Fin’Active supports the strategy proposed by SNB’s management which includes Saft providing electrodes to the new company for the coming years. The price proposed for the transaction would lead Saft to record a loss on disposal of approximately EUR 10 million. The impact on the Group’s cash position would be limited to a few million euros, representing the working capital needs of the divested business 

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