Danish listed DLH dispose of share capital of UK subsidiary

By Kevin Sullivan

The disposal was handled by Kevin Sullivan.

Kevin acted for Dalhoff Larsen & Horneman A/S, the parent company, quoted on the Copenhagen Stock Exchange, of a group of over 30 companies based worldwide, in its disposal of the entire issued share capital of DLH UK Limited, its UK subsidiary to Lathams Ltd.

Kevin commented: “We have had a long association with DLH, a company with over 100 years of history and which has become one of the world’s leading suppliers of timber and timber products. I advised on the transaction, which was a net asset deal and was an opportunity for the group to divest its UK operations. Although the consideration was low, the UK subsidiary was a significant undertaking; it had £15million of sales in its last financial year and gross assets of £6.3million. This meant that there were some complicated arrangements to consider and document.”DLH-square

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