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K+S Aktiengesellschaft: K+S and REMEX combine waste management business and set up REKS joint venture

·2-min read

K+S Aktiengesellschaft / Key word(s): Agreement/Joint Venture
K+S Aktiengesellschaft: K+S and REMEX combine waste management business and set up REKS joint venture

18-Dec-2020 / 19:59 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

K+S Aktiengesellschaft and REMEX GmbH, a wholly-owned subsidiary of REMONDIS SE & Co. KG, have agreed today to bundle their waste management activities in a new joint venture, REKS GmbH & Co. KG, in which both companies are equal partners with 50 percent participation each.

With "REKS" a new, strong company is being established, combining the operations and unique infrastructure of highly advanced waste management facilities of K+S with an extensive and comprehensive sales network of REMEX.

The contribution of the K+S stakes to "REKS", which is to be consolidated at equity, will enable K+S to realize a significant book gain, while at the same time generating a cash inflow of about 90 million euros before taxes with closing. This is part of the package of measures to reduce debt. Furthermore, the joint venture offer K+S the best possible access to the materials needed in the future to cover large tailings piles at the German potash sites.

The transaction will be submitted to the antitrust authorities for approval. The closing of the transaction is expected in summer 2021.

Further information on the agreement of the joint venture is available at https://www.kpluss.com.



Contact:
Investor Relations:
Dirk Neumann
Phone: +49 561 9301-1460
d.neumann@k-plus-s.com

18-Dec-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

K+S Aktiengesellschaft

Bertha-von-Suttner-Str. 7

34131 Kassel

Germany

Phone:

+49 561 9301 0

Fax:

+49 561 9301 2425

E-mail:

investor-relations@k-plus-s.com

Internet:

www.k-plus-s.com

ISIN:

DE000KSAG888

WKN:

KSAG88

Indices:

MDAX

Listed:

Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange

EQS News ID:

1156354


 

End of Announcement

DGAP News Service

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