One key point24 Sep 2020 08:43
As announced on 3 February 2020, the Company completed the sale of its Air Handling division to France Air Management SA for an enterprise value of €222.7m (c.£187.0m) on a cash free, debt free basis on 31 January 2020. The net proceeds received by SIG were €180.9m (c.£151.9m), exclusive of the repayment of debt owed to SIG by the Air Handling division of €40.9m (c.£34.3m). The results from this business have been excluded from the reported underlying results and are shown as a discontinued operation in order to provide a better understanding of the Group's underlying performance in the continuing businesses.