DLH announced on 27 September 2010 that the company had entered into an agreement to sell major land and properties in Belem, Brazil to a big local contracting company. Due to local, juridical circumstances, however, a clean deed of conveyance could not be presented within the period of agreement. Since that time, DLH has been working with the local authorities to obtain a clean deed.
Now, the work has proven successful and, therefore, as of 21 December 2012 DLH has divested the land and properties to Atacadao, a subsidiary of the French Carrefour group, at net proceeds of DKK 60 million. The amount will be used to reduce the DLH Group’s net interest-bearing debt, which as on 30 November 2012 was DKK 315 million.
The transaction will not affect the previous outlook for the full year for an EBIT margin in the level of zero.
For further information about this announcement, please contact President/CEO Kent Arentoft on tel: +45 2848 1219.
