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EQS-Ad-hoc News vom 21.11.2019

ALSO: Leeway for further growth

ALSO Holding AG / Key word(s): Financing

21-Nov-2019 / 17:35 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.


Emmen, Switzerland, 21 November 2019
Media release
 

ALSO: Leeway for further growth

The ALSO Group is signing a new EUR 300 million revolving credit facility (RCF) that marks the successful Europe-wide technology provider's debut in the syndicated credit market and confirmed the banks' confidence in the corporate strategy. For a term of five years ALSO is therefore able to make use of the attractive current financing conditions in the market and thus gain greater flexibility for potential acquisitions and its corporate financing.

«This newly promised EUR 300 million line of credit and the keen interest shown by the banks are a clear sign of our financial partners' confidence in the solidity, stability and sustainability of our business model», says Gustavo Möller-Hergt, CEO of ALSO Holding AG (SIX: ALSN). «We are thereby increasing our financial leeway with regard to the Group's strategic alignment and to further growth by means of potential acquisitions».

The banking consortium consists of eight banks led by ALSO's longstanding partners BNP Paribas, Deutsche Bank, Helaba and UniCredit. The RCF expands ALSO's already diversified financing concept, which consists of bilateral credit lines, factoring, a significant operating cash flow and long-term bonded loans. The long-term bonded loans represent a balanced overall distribution of maturity structure ranging from 2020 to 2027.

Direct link to media release: https://www2.also.com/press/20191121en.pdf


Contact person ALSO Holding AG:
Manuela Rost-Hein
Head of Communications ALSO Group
Phone: +49 151 14040215
E-Mail: [email protected]


ALSO Holding AG (ALSN.SW) (Emmen/Switzerland) brings providers and buyers of the ICT industry together. ALSO offer more than 550 vendors of hardware, software and IT-services access to over 100 000 buyers, who can call a broad spectrum of other customized services in the logistics, finance, and IT services sectors, as well as traditional distribution services. From the development of complex IT landscapes, the provision and maintenance of hardware and software, right through to the return, reconditioning and remarketing of IT hardware, ALSO offers all services as a one-stop shop. ALSO is represented in 23 European countries and generates total net sales of approximately 9.2 billion euros with around 4 000 employees in the fiscal year 2018. The majority shareholder of ALSO Holding AG is the Droege Group, Düsseldorf, Germany. Further information is available at http://also.group

Droege Group
Droege Group (founded in 1988) is an independent advisory and investment company under full family ownership. The company acts as a specialist for tailor-made transformation programs aiming to enhance corporate value. Droege Group combines its corporate family-run structure and capital strength into a family-equity business model. The group carries out direct investments with its own equity in corporate spin-offs and medium-sized companies in «special situations». With the guiding principle «execution - following the rules of art», the group is a pioneer in execution-oriented corporate development. Droege Group follows a focused investment strategy based on current megatrends (knowledge, connectivity, prevention, demography, specialization, future work, shopping 4.0). Enthusiasm for quality, innovation and speed determines the company's actions. In recent years Droege Group has successfully positioned itself in domestic and international markets and operates in 30 countries. More information: https://droege-group.com

Disclaimer
This press release contains forward-looking statements which are based on current assumptions and forecasts of the ALSO management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular the results, financial situation, and performance of our Group. The Group accepts no responsibility for updating these forward-looking statements or adapting them to future events or developments.


Additional features:


Document: http://n.eqs.com/c/fncls.ssp?u=TMGVJTTEPO
Document title: ALSO_21.11.2019

End of ad hoc announcement

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