Ontex Announces Cash Payment of € 81 Million Received from Arbitration Settlement Regarding the Acquisition of its Brazilian Business in 2017
Cash will be used to repay debt and reduce leverage
Aalst-Erembodegem, October 4, 2021 – Ontex Group NV (Euronext Brussels: ONTEX) today announced that Ontex has received 500 million Brazilian reais (81 million euros1) of Hypera SA (“Hypera”, formerly Hypermarcas SA) on October 1, 2021. This was foreseen when Ontex entered into an agreement with Hypera as announced on September 15, 2021, settling certain claims relating to the acquisition by Ontex of the Brazilian personal hygiene business of Hyperera in March 2017 with an enterprise value of 1 billion Brazilian reais.
After deduction of approximately € 7 million in arbitration costs, the balance of the settlement amount will be used to repay the debt, in accordance with the Group’s ambition to reduce indebtedness.
Note 1: The settlement amount is denominated in Brazilian Reais. The amount in € of this press release is calculated at the EUR / BRL rate of 6.19.
Philippe Ludwig +32 53 333 730
Caroline De Wolf +32 478 93 43 93 [email protected]
Ontex is a leading international provider of personal hygiene solutions, with expertise in baby care, feminine care and adult care. Ontex’s innovative products are distributed in more than 110 countries through Ontex brands such as BBTips, BioBaby, Pompom, Bigfral, CanBebe, CanPed, iD and Serenity, as well as major retail brands. Employing some 10,000 enthusiasts worldwide, Ontex operates in 21 countries, with its headquarters in Aalst, Belgium. Ontex is listed on Euronext Brussels and is part of Bel Mid®. To keep up with the latest news, visit www.ontex.comor follow us on LinkedIn, Facebook, Instagram and YouTube.