HABO, Sweden, Oct. 30, 2020 /PRNewswire/ -- The Fagerhult Group
has today signed an agreement to divest Lighting Innovations Africa
(Pty) Ltd. to Cape Mountain Concepts (Pty) Ltd. The divestment will
take place on 2nd November 2020.
In line with the press release issued on 7th August 2020 the Fagerhult Group completes its
previously announced exit from the South African market.
In addition to what was reported in the Q3 report, the
divestment generates an additional cost of SEK 30 million which will be charged to operating
profit in Q4 2020 in the segment Lighting Innovations.
The new owners of the business also own another lighting
business in South Africa. Under
this new ownership Lighting Innovations Africa (Pty) Ltd remains
open for business and continues to manufacture lighting fixtures
and smart solutions primarily for the indoor commercial sector.
Product warranties will continue to be honoured.
For more information on Lighting Innovations Africa (Pty) Ltd,
For more information please contact:
CEO, Bodil Sonesson, +46 722 23 76 02
CFO, Michael Wood, +46 730 87
This information is information that AB Fagerhult is obliged
to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact persons set out above, at 16:00 CET on
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The following files are available for download:
Fagerhult signs an
agreement to divest Lighting Innovations Africa (Pty) Ltd to Cape
Mountain Concepts (Pty) Ltd