(14 Oct 2024 ─ Hong Kong) NWS Holdings Limited (“NWS” or the “Group”, Hong Kong stock code: 659) is pleased to announce that it, through its joint venture entity with its investment partner Unitas Capital Pte Ltd ("Unitas Capital"), has entered into a sale and purchase agreement with Jost-Werke International Beteiligungsverwaltung GmbH (“JOST”) for the proposed disposal (the “Proposed Disposal”) of its entire interest in Hyva III B.V. and its subsidiaries (“Hyva Group”) as well as related indebtedness owing by the Hyva Group as part of its ongoing efforts in optimising its business portfolio.
Invested by the Group in 2011 together with Unitas Capital, Hyva Group specializes in the manufacture and supply of components in hydraulic systems. The enterprise value of the Hyva Group under the Proposed Disposal amounts to US$425 million. Following completion of the Proposed Disposal which is expected in early 2025, NWS estimates its share of net proceeds would amount to approximately US$156 million (equivalent to approximately HK$1.22 billion).
Gilbert Ho, Group Co-Chief Executive Officer of NWS, said, “Since 2018, the Group has been diligently executing our development strategy to optimize its business portfolio. This strategic focus has yielded encouraging results amidst the challenging market environment. The Proposed Disposal further demonstrates our effort in unlocking value from our assets for our shareholders. At the same time, we are also enthusiastic about Hyva Group’s next chapter with JOST, as we believe they will continue to create synergies within the global manufacturing landscape.”
Jim Lam, Group Chief Operating and Financial Officer of NWS, added “The Group maintains a robust financial position, and this Proposed Disposal will further enhance our financial standing. Meanwhile, we remain steadfast in our commitment to operational excellence and the integration of ESG principles into our business frameworks.”
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NWS Holdings Limited
Listed on The Stock Exchange of Hong Kong Limited, NWS Holdings Limited (Hong Kong Stock Code: 659) is a conglomerate with a diversified portfolio of market-leading businesses, predominantly in Hong Kong and the Mainland. The Group’s businesses include toll roads, insurance, logistics, construction, and facilities management. Through the Group’s sustainable business model, it is committed to creating more value for all stakeholders and the community.
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NWS Holdings Limited
Telephone: 2131 3801
Email: corpcomm@nws.com.hk
