TK Aluminum Ltd. Announces Sale of French and German Subsidiaries
The parties have not disclosed the financial terms of the PurchaseAgreement at this time. Pursuant to the Purchase Agreement and subject tocertain conditions, Bavariaring will share operational control of the acquiredcompanies in the period prior to the closing of the transactions contemplatedby the Purchase Agreement.
The Purchase Agreement is subject to termination by Teksid Luxembourg inthe event the Supervisory Board of Bavaria AG does not authorize and approvecertain aspects of the transactions contemplated by the Purchase Agreement onor before September 15, 2007. The Purchase Agreement is also subject tocertain conditions to closing, including receipt by Teksid Luxembourg ofconsent of at least a majority in principal amount of Teksid Luxembourg's11 3/8 Senior Notes and may be terminated by Teksid Luxembourg in the eventsuch consent is not received.
There can be no assurance that the Bavaria AG Supervisory Board willauthorize and approve certain aspects of the transactions contemplated by thePurchase Agreement on or before September 15, 2007, that Teksid Luxembourgwill not terminate the Purchase Agreement in the event that the Bavaria AGSupervisory Board does not authorize and approve such aspects of thetransactions on or before September 15, 2007, that the conditions to thePurchase Agreement will be satisfied or that the sale of the acquiredcompanies contemplated thereby will be consummated.
For further information
please contact Florence Delpeyrou at+33-(0)1-53-53-41-56 or email
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