NewswireToday - /newswire/ -
The Hague, Netherlands, 2012/01/24 - KPN intends to sell Getronics International (with operations in Europe, APAC and LATAM) in two separate transactions, for an undisclosed consideration - Getronics.com / WorkspaceAlliance.com / KPN.com.
These changes in Getronics International will have a positve impact in the further expansion of the Getronics Workspace Alliance.
KPN intends to sell Getronics Europe and APAC to AURELIUS AG, an industrial holding with a long-term investment horizon. Getronics Europe and APAC has country operations in Belgium, Luxembourg, the United Kingdom, Ireland, Germany, Switzerland, Hungary, Malaysia and Singapore, and a global services operation in the Netherlands. In 2011, Getronics Europe and APAC generated revenues of approximately EUR 450 million with over 2,900 FTEs. KPN will retain a minority equity stake in Getronics Europe and APAC. In respect of the employee representative bodies, KPN will comply with the applicable information and consultation obligations.
According to Aurelius,“The intended transaction is a further step in building an even stronger GWA. We are convinced, that this will invigorate the unique GWA position, expand the capabilities to serve their global customers and strengthen the portfolio and sales capabilities of the alliance”.
KPN has reached agreement with OpenGate Capital on the divestment of Getronics LATAM. OpenGate Capital is an international private equity firm that acquires controlling interests in businesses with solid fundamentals. Getronics LATAM has country operations in Brazil, Colombia and Mexico. In 2011, Getronics LATAM generated revenues of approximately EUR 115 million with over 2,000 FTEs.
The intended divestment of Getronics International is part of KPN’s proven strategy of strengthening its global delivery capabilities for major international clients through partnerships. KPN will remain committed to the Getronics Workspace Alliance through KPN Corporate Market (former Getronics Netherlands).
The intended transactions are subject to customary closing conditions and the relevant antitrust authorities will be notified. KPN anticipates to close the transactions in Q2 2012.
For more information:
Press release of Aurelius and Press release of OpenGate
Corporate Communicatie Investor Relations - KPN Media Relations T: T: +31 70 4460986 F: +31 70 4466310 F: +31 70 4460593 E: press[.]kpn.com E-mail: ir[.]kpn.com.