The divestment of Ramirent’s Hungarian operations, announced on 8 August 2013, has now been closed. Ramirent sold its operations in Hungary to the Danube SCA Sicar, a private equity fund.
The transaction includes entire Hungarian operation with forecasted Net sales for 2013 of EUR 7 million. As stated in the previous announcement, the transaction will result in a non-recurring cost due to foreign exchange translation differences of approximately EUR 2 million, which will be recognised in other operating expenses in the third quarter 2013.
The divestment strengthens Ramirent’s strategic focus on company’s core markets in the Baltic Sea region.
