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Somfy supervisory board approves separation of Somfy Activites and Somfy Participations

Wednesday, 15 Oct 2014 11:40am EDT

Somfy SA:Supervisory Board approves separation of Somfy Activites and Somfy Participations.In first stage on Oct. 29 assets of Somfy Participations will be transferred to Edify, a company created specially for the operation.In second stage there will be exceptional distribution to shareholders of Edify shares or cash.Exceptional distribution will be an Edify share valued at 50 euros or 50 euros gross in cash.Edify will be listed on the Euro MTF market of the Luxembourg stock exchange.

Fiskars to reorganize its businesses in Europe and Asia-Pacific and lay off a maximum of 60 people

Friday, 12 Sep 2014 03:00am EDT

Fiskars Oyj Abp:Says proposed new organization would come into effect as of Dec. 1.Says in the proposed new organization, Fiskars two geographic reporting segments, Europe & Asia-Pacific and Americas, would consist of four business regions.Says the reduction of employees is estimated to total a maximum of 60 people.

Somfy SA proposes demerger of two operating divisions

Thursday, 28 Aug 2014 12:10pm EDT

Somfy SA:Announces that it is to approve in principle the launch of the demerger transaction of Somfy Activities and Somfy Participations.Says the two entities are already independent fro each other and operate in accordance with different business models.Says if the split confirmed, the transaction would be completed in two stages.Says the first would involve the contribution of Smofy Participations' assets, excluding the equity investments in CIAT and FAAC, to a special vehicle incorporated in Luxembourg.Says the second would consist in a distribution of reserves with, at Somfy shareholders' discretion, a payment either in cash or in shares in the new company, which would be floated on the Euro MTF organized market of the Luxembourg Stock Exchange.Says if definitively, approved, the transaction is expected to be completed by the end of the year, with a Shareholders' General Meeting to be held in late Nov. to rule on the distribution, which itself could take place in mid-Dec.

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Provider: GlobalData
$125.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00
Provider: Reuters Investment Profile
$20.00
Provider: Reuters Investment Profile
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