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Completion of disposal

2 Jun 2010 08:54

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: 01279 442791

Adrian Whitfield, Chief Executive

David Blackwood, Finance Director

Hogarth

Tel: 020 7357 9477

John Olsen

Andrew Jaques

Ian Payne

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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