Salute e Benessere
SKF continues the preparations for the separation of its Automotive business; initiates consent solicitation
SKF is seeking the consent as a matter of prudence and in order to avoid any potential uncertainty in the future. SKF does not consider that there has been an event of default under any series of the notes.
As previously communicated, SKF considers that the contemplated spin-off of its automotive business would facilitate a clearer focus on distinct opportunities to enhance customer value, accelerate growth, improve competitiveness as well as providing long-term value benefiting customers, employees and other stakeholders.
SKF does not expect the contemplated spin-off to have any negative impact on its strategy, operational or financial conditions of SKF. This implies that the contemplated spin-off would not impact the solvency of SKF and its financial structure would remain solid.
As further described in the announcement, SKF is offering a 0.25% (as a percentage of the principal amount) early voting fee to Noteholders who vote in favour of the approvals at or prior to the applicable early instruction deadline.
For further information, please see the announcement in respect of the consent solicitation which will be published here: https://www.luxse.com/market-overview/market-news.
Aktiebolaget SKF
(publ)
Information in this press release contains information that AB SKF is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 7 February 2025 at 08:00 CET .
PRESS: Carl Bjernstam, Head of Media Relations
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com
Group Treasurer: Elisabeth Mosséen ,
tel: +46 31-337 6431; mobile: +46 722 156 431; e-mail: elisabeth.mosseen@skf.com
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