SEOUL (dpa-AFX) - Sixt said it agreed to sell its entire participation in Sixt Leasing SE to Hyundai Capital Bank Europe GmbH, a joint venture of Santander Consumer Bank AG and Hyundai Capital Services.
The participation consists of shares representing about 41.9% of the share capital of Sixt Leasing SE. The purchase price agreed for the sale of the participation amounts to about 155.6 million euros, or 18.00 euros per sold share.
Sixt SE expects the sale to be completed in the second half of 2020.
In addition, Sixt SE will be entitled to a dividend on its participation in Sixt Leasing SE for the financial year 2019 of up to 0.90 euros per share.
Sixt SE has communicated to Sixt Leasing SE an expected dividend for the fiscal year 2019 in the amount of up to 0.90 euros per share. Should the sale be closed prior to this year's annual general meeting of Sixt Leasing SE, the purchase price would be increased accordingly to up to about 163.4 million euros or up to 18.90 euros per sold share.
Upon completion of the sale of Sixt SE's participation in Sixt Leasing SE, Sixt SE will presumably generate a mid-double-digit million euro amount as extraordinary pre-tax profit at group level.
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