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BRIEF-Lenzing reduces stake in Equi-Fibres to 20 pct
December 23, 2016 / 3:19 PM / in 10 months

BRIEF-Lenzing reduces stake in Equi-Fibres to 20 pct

Dec 23 (Reuters) - Lenzing AG :

* Has reduced its equity stake in Equi-Fibres Beteiligungs-Gesellschaft Mbh, Kelheim from 45 to 20 percent

* On basis of this transaction, financial result of Lenzing group for current financial year is expected to increase by about 10-15 million euros ($10.4 million - $15.7 million)

* Buyer is a company represented by its managing directors Peter Untersperger and Gerald Schmidsberger

* Payment of stipulated purchase price is to take place starting in 2017 Source text for Eikon: Further company coverage: ($1 = 0.9583 euros) (Gdynia Newsroom)

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