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Jenoptik In Deal To Sell VINCORION Unit To STAR Capital - Quick Facts

Jenoptik AG (JNPKF.PK), a German integrated photonics company, Thursday said it has signed an agreement to sell the VINCORION division to a fund managed by private equity firm STAR Capital Partnership LLP.

The enterprise value amounts to approximately 130 million euros.

The company noted that equity value of the deal is in the mid double-digit million euro range. In addition, there are claims and obligations in the mid double-digit million euro range as well as certain earn-out components.

Both parties have agreed not to disclose any further details.

The company plans to close the deal in the second half of 2022, subject to approval by the responsible authorities and other customary closing conditions.

VINCORION develops, produces, and sells mechatronic products in particular for the defense and security sector, the aviation, as well as the rail and transportation industries.

Due to the signing of the sale deal, VINCORION will be classified as "discontinued operations" already in the current fiscal year.

Jenoptik said there will be no change to the guidance 2021 when both, continuing operations and discontinued operations, are taken into account.

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