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Antwort auf Beitrag Nr.: 59.242.348 von R-BgO am 18.11.18 10:23:34

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Spectrum Brands Holdings Updates Asset Sale Processes

-Signs Agreement to Sell Global Auto Care Business to Energizer Holdings, Inc. for $1.25 Billion in Cash and Equity

-Amends Agreement with Energizer Holdings, Inc. to Address Potential European Commission Remedy, Including a Potential Adjustment to the $2 Billion Purchase Price of up to $200 Million for Sale of Global Battery and Lighting Business

-Reclassifies Appliance Business as Consolidated Operations


MIDDLETON, Wis.--(BUSINESS WIRE)--Nov. 15, 2018--

Spectrum Brands Holdings, Inc. (NYSE: SPB), a global consumer products company offering a broad portfolio of leading brands and focused on driving innovation and providing exceptional customer service, today announced it has entered into a definitive agreement to sell its Global Auto Care (GAC) business to Energizer Holdings, Inc. (NYSE: ENR) in a transaction valued at $1.25 billion. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second fiscal quarter of 2019. The $1.25 billion transaction value is comprised of $937.5 million of cash and $312.5 million of Energizer Holdings Inc. equity.

“The GAC business is a terrific complement to Energizer’s existing auto care business, and they have the resources and capabilities to increase investment to further grow the business,” said David Maura, Executive Chairman and Chief Executive Officer of Spectrum Brands Holdings. “Energizer is a highly respected operator, and we believe they will be a great steward of the GAC business and its employees, while allowing us to delever and focus on our remaining businesses.”

Spectrum Brands also announced today that it has entered into an amended acquisition agreement with Energizer for the previously announced sale of its Global Battery and Lighting Business, to address a proposed remedy that Energizer has submitted for consideration to the European Commission (EC) for review, including a potential downward adjustment to the purchase price of up to $200 million. Contingent upon the EC’s approval of the proposed remedy, Spectrum Brands continues to expect this transaction to close at the beginning of calendar year 2019.

“I look forward to discussing our strategy for the businesses that we are retaining, as well as our expected deployment of the cash proceeds of the transactions announced today, next week when we release our 2018 financial results,” Mr. Maura said.

Additionally, Spectrum Brands announced today the reclassification of its Appliances division, consisting of Personal Care and Small Appliances businesses, as continuing operations, effective with the first quarter of fiscal 2019 ending December 31, 2018.

RBC Capital Markets and Credit Suisse were the financial advisors for Spectrum Brands, and its legal advisor was Paul, Weiss, Rifkind, Wharton & Garrison LLP in connection with the Global Auto Care transaction. RBC Capital Markets was the financial advisor for Spectrum Brands and its legal advisor was Kirkland & Ellis LLP on the Global Battery and Lights transaction.

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Antwort auf Beitrag Nr.: 59.242.348 von R-BgO am 18.11.18 10:23:34

Energizer Holdings, Inc. Announces Agreement To Sell The Europe-Based Varta® Consumer Battery Business For $401.0 Million

- The sales price is inclusive of €180 million, subject to purchase price adjustments, payable by VARTA AG and $200 million payable by Spectrum Brands Holdings, Inc.


ST. LOUIS, May 29, 2019 /PRNewswire/ --

Energizer Holdings, Inc. (NYSE: ENR) ("Energizer") announced today that it reached an agreement to sell the Europe-based Varta® consumer battery business, including manufacturing and distribution facilities in Germany (the "Varta Business"). The divestiture was made in accordance with the order imposed by the European Commission ("EC") in connection with the Company's acquisition of the battery and portable lighting business from Spectrum Brands Holdings, Inc. ("Spectrum") in January 2019.

Energizer and VARTA AG (XFRA), a German company active in the microbatteries and power & energy, have entered into a definitive agreement for the sale of the Varta Business, for €180 million, subject to purchase price adjustments. Pursuant to the terms of the acquisition agreement with Spectrum for Spectrum's global battery and lighting business, Spectrum will be contributing an additional US $200 million to Energizer in connection with the divestiture of the Varta Business.

Anticipated net proceeds from the divestiture of the Varta Business are consistent with the assumptions we incorporated in our previously disclosed outlook for our leverage ratio at the end of Fiscal 2019. As a result of the transaction, Energizer expects to record a loss related to the divestiture in discontinued operations during the third fiscal quarter.

Energizer expects to close the transaction shortly after customary closing conditions are met and upon receipt of the EC's final regulatory approval.