Completion of disposal

RNS Number : 9189M

Yule Catto & Co PLC

02 June 2010

 



2 June 2010

Yule Catto & Co plc

Completion of disposal

Yule Catto & Co plc ("the Group") is pleased to announce that its joint venture subsidiary, Revertex (Malaysia) Sdn Bhd, has completed the sale of Revertex Finewaters Sdn Bhd to H B Fuller Company.

The disposal, announced on 12 March 2010, was conditional on approval from the Malaysian regulatory authorities, which has now been obtained.

The consideration of Malaysian Ringgit 55.6 million (£11 million) received by the Group for its 63% effective interest, representing an 8x multiple of EBITDA in 2009, has been used to reduce the Group's borrowings.

- Ends -

Enquiries:

Yule Catto & Co plc	Tel: [phone]
Adrian Whitfield, Chief Executive
David Blackwood, Finance Director
Hogarth	Tel: [phone]
John Olsen
Andrew Jaques
Ian Payne

 

END

 

 

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