Press release DELTA N.V.: Katoen Natie Acquires Indaver

DELTA anticipates substantial debt reduction

DELTA N.V. (DELTA) reached an agreement today with Katoen Natie for the proposed sale of its 74.99 percent stake in the share capital of waste processor Indaver N.V. (“Indaver”).

The agreed purchase price is based on an Enterprise Value of EUR 842 million and an Equity Value of EUR 555 million, resulting in total proceeds for DELTA of EUR 416 million. This result enables DELTA to further reduce its debt and strengthen its financial position for the future. The sale fits well with the strategy discussed with the DELTA shareholders. With Katoen Natie as the new majority shareholder Indaver can continue its international growth strategy.

Arnoud Kamerbeek, CEO of DELTA: “A thorough and broad-based sales process has led to a successful outcome. In addition to an attractive value for DELTA, the transaction is also beneficial to Indaver. Katoen Natie fits well with the Flemish identity of Indaver and is in a position to support Indaver’s international growth strategy further”.

Paul De Bruycker, CEO of Indaver: “As an organization, we at Indaver are pleased that the sales process was so quick and smooth. Together with our new majority shareholder we can now fully focus on continued international expansion of the group. The network of Katoen Natie will certainly assist us as we go forward”.

Fernand Huts, chairman of Katoen Natie: “Zeeuwen hand back Flemish crown jewel as good neighbours”.

The sale of Indaver to Katoen Natie is subject to approval by the competition authorities in the Netherlands, Belgium and Germany, approval by the shareholders of DELTA and approval by DELTA’s central works council. The sales process is expected to be complete by the end of the second quarter of this year.

Morgan Stanley & Co. International plc is acting as sole financial advisor and Freshfields Bruckhaus Deringer is acting as legal advisor for DELTA.

Note to editors:

About Katoen Natie:

Katoen Natie is a private Flemisch enterprise, celebrating its 160 years anniversary this year. Katoen Natie’s activities consist of value add logistical services with activities in 33 countries and 11000 employees.

About DELTA:

DELTA is a multi-utility company that supplies energy, infrastructure and environmental services as well as digital services such as Internet, telephony and radio and TV. The majority of customers have several of our products. DELTA has business operations both domestically and abroad in waste processing, energy and digital services.

For further information, please contact: DELTA N.V., Ilona Wielemaker, spokesperson on +31 (0)118 882211.

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