TOUAX : Information regarding the sale of the European modular activities to TDR Capital LLP
November 15 2017 - 12:00PM
PRESS RELEASE - Paris, 15 November 2017- 6
p.m.
TOUAX
YOUR OPERATIONAL LEASING SOLUTION
Information
regarding the sale of the European modular activities to TDR
Capital LLP
On June 30, 2017, TOUAX had also
announced the signature of an irrevocable put option providing for
the sale of its European modular activities with a company owned by
TDR Capital II Holdings LLP. This fund is managed by TDR Capital
LLP, which currently owns a majority stake in Algeco-Scotsman.
TOUAX subsequently signed a share purchase agreement on August 4,
2017.
Despite the satisfaction of the
condition precedent relating to the clearance of the competent
competition authorities and the irrevocable nature of the share
purchase agreement, the closing did not occur due to the purchaser.
Based on its disagreement with the purchaser, TOUAX has been
obliged to initiate expedited proceedings, pending before the
Presiding judge of the Paris Commercial Court, in order to seek
injunctive relief requiring the purchaser to perform its
obligations under the share purchase agreement.
This proceeding does not change
the IFRS 5 analysis with respect to the financial statements which
presents the European modular activities as "discontinued
operations".
TOUAX
Group leases out tangible assets (freight railcars, river barges
and shipping-containers) on a daily basis throughout the world, for
its own account and on behalf of third party investors. With close
to €1.3 billion under management, TOUAX is one of the European
leaders in the operational leasing of this type of equipment.
TOUAX
is listed in Paris on EURONEXT - Euronext Paris Compartment C (Code
ISIN FR0000033003) and on the CAC® Small and CAC® Mid & Small
indexes and in EnterNext PEA-PME.
For
more information: www.touax.com
Contacts:
TOUAX
Fabrice & Raphaël Walewski
Managing partners
touax@touax.com
Tel: +33 (0)1 46 96 18 00
ACTIFIN
Ghislaine GASPARETTO
ggasparetto@actifin.fr
Tel: +33 (0)1 55 88 11 11
Touax - information about its
European modular activities
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: TOUAX via Globenewswire
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