From Nasdaq:



Klockner & Co, a German steel and metal distributing company, has announced plans to sell parts of its European commodity distribution business. The company has received an offer from Spanish company Hierros Anon S.A. for the acquisition of its country organizations in France, the United Kingdom, the Netherlands, and Belgium. The sale is expected to have a positive impact on the company’s EBITDA from 2024 onwards, but will result in a one-time negative effect on the Group equity. The company aims to focus on businesses with higher value-added products and services, and will prioritize its North American market and its activities in Germany, Austria, and Switzerland. The closing of the transaction is expected to take place in the first half of 2024.



Original: Klockner Plans To Sell Parts Of Its European Commodity Distribution Business