Cham, Switzerland – April 1, 2022
Landis+Gyr Group AG (SIX: LAND), a leading provider of integrated energy management solutions, today closed the sale of its minority share in Intellihub Operations Pty Ltd, Australia, (“Intellihub”) to the global asset manager Brookfield for a total cash consideration of over AUD 310 million. The transaction was announced in December 2021 when the agreement was signed.
The cash proceeds from the transaction of over USD 220 million will be partially offset by a 30% capital gains tax in Australia and 0.3% Swiss stamp duty. The transaction will be accounted for in the financial year 2022.
