Corticeira Amorim SGPS SA (DE:AS4) has released an update.
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Corticeira Amorim has sold its 80% stake in Timberman Denmark A/S to the Salix group for 23.7 million euros, realizing a capital gain of approximately 14 million euros. This move aligns with the company’s strategy to shift from direct distribution to utilizing distributors in certain markets. Despite the sale, Timberman Denmark A/S will continue to distribute Amorim’s flooring products in Denmark and Sweden.
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