G & L Beijer AB has divested its entire holding of 2.7 million shares in Beijer Alma, equivalent to 9.0 per cent of capital and 4.5 per cent of votes. After the transaction,

G & L Beijer holds no shares in Beijer Alma. The divestment generated sales proceeds of approximately SEK 365M. G & L Beijer made a capital gain of more than SEK 50M which will be reported in the first quarter of 2011. The shares in Beijer Alma were received as part payment on the sale of Beijer Tech during the spring of 2010. As a result, total sales proceeds amounted to more than SEK 400M and the capital gain was approximately SEK 190M.

The divestment of the shares is another step forward in creating increased scope to take action for the continued expansion within the strongly growing refrigeration wholesale operation. The transaction further strengthens G & L Beijer’s financial position. On 31 December 2010, the net debt amounted to SEK 395M. The net debt ratio was 0.17 and the equity ratio amounted to 60 per cent.

Malmö, 25 March 2011
G & L Beijer AB (publ)

For further information, please contact:
Joen Magnusson, CEO
G & L Beijer AB
Telephone +46 40-35 89 00
Mobile +46 709-26 50 91

or

Jonas Lindqvist, CFO
Telephone +46 40-35 89 00
Mobile +46 705-90 89 04