BIC : Closing of BIC Graphic North America and Asi
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BIC Group - Press Release Clichy - 30 June 2017
Closing of BIC Graphic North America and Asian Sourcing Operations Divestiture
BIC Group today announces that following the Asset and Share Purchase Agreement signed on 6 June 2017, BIC Graphic North America and Asian Sourcing operations have been sold to H.I.G. Capital, for 80 million USD, including 70 million USD in cash and 10 million USD through a six-year subordinated note bearing a 7% per annum capitalized interest.
BIC Graphic North America and Asian Sourcing Assets and Liabilities have been accounted for as "Non-Current Assets Held For Sale" and "Discontinued Operations" since 31 December, 2016, in accordance with IFRS 5 [1] . The estimated net loss resulting from the divestiture on BIC Group Full Year 2017 results is approximately 5 million EUR, subject to final adjustments. This non-recurring item will be excluded from Normalized Earnings Per Share.
CONTACTS
| Investor Relations : +33 1 45 19 52 26 | Press Contact |
| Sophie Palliez-Capian sophie.palliez@bicworld.com | Priscille Reneaume: +33 1 53 70 74 70 preneaume@image7.fr |
| Katy Bettach katy.bettach@bicworld.com |
For more information, please consult the corporate website: www.bicworld.com
2017 Agenda (all dates to be confirmed)
| Second Quarter - First Half 2017 results | 03 August 2017 | Conference call |
| Third Quarter 2017 results | 25 October 2017 | Conference Call |
| Full Year 2017 Results | 14 February 2018 | Meeting - BIC's Headquarters |
| First Quarter 2018 Results | 25 April 2018 | Conference call |
About BIC
BIC is a world leader in stationery, lighters, shavers and promotional products. For more than 60 years, BIC has honored the tradition of providing high-quality, affordable products to consumers everywhere. Through this unwavering dedication, BIC has become one of the most recognized brands in the world. BIC products are sold in more than 160 countries around the world. In 2016, BIC recorded Net Sales of 2,025.8 million euros. The Company is listed on "Euronext Paris" and is part of the SBF120, CAC Mid 60 and Family Business indexes. BIC is also part of the following Socially Responsible Investment indexes: CDP's Climate A List, CDP's Supplier Climate A List, CDP Supplier Engagement Leader Board, FTSE4Good indexes, Ethibel Sustainability Index (ESI) Excellence Europe, Euronext Vigeo - Eurozone 120, Euronext Vigeo - Europe 120, Stoxx Global ESG Leaders Index.
[1] Please refer to BIC Q1 2017 press release issued on 26 April 2017
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