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CANCOM SE / Key word(s): Strategic Company Decision/Mergers & Acquisitions
CANCOM: CANCOM SE reviews strategic options for business activities in the United Kingdom and Ireland
Munich, Germany, 25 May 2021 - The Executive Board of CANCOM SE is reviewing strategic options with regard to the business activities in the United Kingdom and Ireland. The review also includes the possibility of selling all company shares in CANCOM Ltd. based in London. CANCOM Ltd. is the intermediate holding company in which all CANCOM SE's shareholdings based in the United Kingdom and Ireland are bundled. In the event of a sale, CANCOM will thus no longer have any business activities in the United Kingdom as well as Ireland. As part of this review of strategic options, CANCOM SE is also currently conducting a structured bidding process to determine investor interest in a takeover and an associated achievable purchase price.
In the 2020 financial year, CANCOM Ltd. and its affiliated companies in the United Kingdom and Ireland generated revenue of around EUR 138.0 million. The EBITDA associated with this revenue was around EUR 19.7 million in 2020.
At present, the Executive Board of CANCOM SE is examining all strategic options for the business activities in the United Kingdom and Ireland with an open mind. The main bases for the review are an assessment of the risk-reward profile of the business activities in these markets, investor interest and a high accounting profit potentially achievable with the sale, as well as strategic considerations about the future geographic core markets of the CANCOM Group.
No binding decisions or contracts have been concluded to date, nor have any binding offers been submitted by investors. There is therefore currently no certainty that a final decision will be made for a sale, nor is a concrete achievable sale price known at the present time. CANCOM is aiming for a final decision in the coming months.
CANCOM will inform the capital market and the public about the progress of the proceedings in accordance with legal requirements.
Contact / Notifying person:
25-May-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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