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2016-11-11

Mekonomen: Mekonomen divests the Danish business

Mekonomen Group has signed an agreement to divest the Danish business,
to the Danish T.Hansen Gruppen / AD Danmark. The transaction will be
completed 28 December 2016 which means that Mekonomen Group will have
exited Denmark and will therefore not incur any losses related to
Denmark from 2017.

The transaction will result in a negative non-recurring EBIT effect of
SEK 25 M in the fourth quarter of 2016, in addition to the ordinary
result generated in the Danish business in the fourth quarter.

The divestment comprises the taking over of the Danish business
including inventory, personnel and rental agreements. Furthermore,
the transaction means that T.Hansen Gruppen / AD Danmark will have
the right to use the Mekonomen brand in Denmark and to operate the
workshop chains Mekonomen Autoteknik and MekoPartner. A delivery
contract between MECA and T.Hansen Gruppen / AD Danmark is also a
part of the agreement.

The future positive tax effects of more than SEK 50 M which were
communicated in conjunction with the restructuring in Denmark at the
end of 2014 are still valid since the divestment does not include the
taking over of the Danish companies owned by Mekonomen Group. These
companies will be liquidated from 2017.

"We welcome T.Hansen Gruppen / AD Danmark as a new owner and we see
favorable possibilities for them to operate and develop the Danish
business further. The delivery contract also provides opportunity for
a long-term cooperation", says Pehr Oscarson, Acting President and
CEO of Mekonomen Group.

For further information, please contact:

Pehr Oscarson, Acting President and CEO of Mekonomen Group, +46
(0)8-464 00 00

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http://news.cision.com/mekonomen/r/mekonomen-divests-the-danish-business...
http://mb.cision.com/Main/550/2120698/588427.pdf

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