July 2, 2021
Cargotec has completed the sale of Navis for €380m.
The remaining €30m of the enterprise value will be transferred to Cargotec by the end of 2021. The transition of Navis operations and employees to Accel-KKR takes place in phases before the end of 2021, subject to local legal requirements.
Cargotec estimates that the transaction will have approximately €240m positive impact on its operating profit in 2021. In its 26 March 2021 release, Cargotec estimated the positive impact to be €230m. The gain will be reported as an item affecting comparability and it does not impact Cargotec’s outlook for 2021 published on 28 April 2021 in conjunction with the company’s interim report January–March 2021.
As of 1 July, Navis results are no longer consolidated into Cargotec financials.Read the full article >>