Dustin Group AB: Dustin Signs Nordic Partnership Agreement with DLL and Simultaneously Divests Lease Portfolio

Regulatory News:

Dustin Group AB (STO:DUST)  

Dustin has decided to consolidate its financial offering to the corporate market in all Nordic countries through a partnership agreement with De Lage Landen Finans AB (DLL). In conjunction with this, the lease portfolio in Dustin’s financing activities will be divested to DLL. The sales price of the lease portfolio is estimated to correspond to the carrying amount. The transaction is scheduled to be finalised on 2 November 2015.

- The partnership agreement and divestment will enable us to offer an attractive financing offering to all our corporate customers in the Nordic region, and to fully focus on our core operation, says Georgi Ganev, CEO of Dustin.

At the end of September, the total contract stock of the leasing operation amounted to approximately SEK 260 million, the financial commitment to approximately SEK 180 million and accounts receivable to about SEK 30 million. The sales value of the lease portfolio is estimated to correspond to the carrying amount. The transaction is scheduled to be completed on 2 November 2015.   

At the same time, Dustin will sign a Nordic partnership agreement with the De Lage Landen Finans AB (DLL) that will initially extend for three years. Dustin will thus be able to continuously receive future income from the existing portfolio and part of the income from newly signed contracts.

DLL is a global company, with 5,000 employees and operations in countries including Sweden, Denmark, Finland and Norway. DLL offers financing and leasing solutions that generate value and provide support to partners, as well as growth to end customers. Read more on www.dllgroup.com

This information is such that Dustin Group AB (publ) is required to disclose in accordance with the Swedish Financial Instruments Trading Act and/or the Swedish Securities Market Act. The information was submitted for publication at 08:00 CET on October 23, 2015.

About Dustin

Dustin is one of the leading Nordic resellers of IT products and additional services to companies, the public sector and private individuals. Having its core business within e-commerce, Dustin functions as a bridge between the manufacturer’s large selection and the customer’s needs where Dustin’s employees help customers find the right solution for their needs.

Dustin is a one-stop-shop that offers approximately 200,000 products with associated services, functions and solutions. The operation is conducted in Sweden, Denmark, Norway and Finland.

Dustin has more than 900 employees. Sales during the 2014/15 financial year amounted to approximately SEK 7.9 billion. More than 90 per cent of Dustin’s income derives from the corporate market with a focus on small and medium companies. Dustin is listed on Nasdaq Stockholm since 2015 and has its head office in Nacka in Stockholm.

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