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[Sep 2005]
RHI Initiates Sale of Heraklith Group
RHI AG (Vienna, Austria) has decided to initiate the sale of its Insulating division, the lead company of which is Heraklith AG. An IPO, the alternative option to the further strategic development of this division, will not be pursued any further due to the high number of potential buyers who have shown serious interest.
RHI will now ask different potential buyers to place their bids and, following the preparation of a shortlist in October 2005, enable selected investors who can strengthen Heraklith in its strategic development in Central and Eastern Europe, especially in Russia, to perform a comprehensive due diligence analysis.
The completion of the transaction is scheduled for the first quarter of 2006, following the preparation of Heraklith's financial statements 2005.
www.rhi-ag.com
ENDS