Battery manufacturer Saft has received a firm order from Fin’Active, a French investment company, to acquire its Small Nickel Battery (SNB) business based in Nersac, France.
Saft has given exclusivity to Fin’Active and has begun the consultation process with the workers council.
Once this process is finalised, Fin’Active will acquire the SNB business and its entire workforce of around 340 people.
The price proposed for the transaction would lead Saft to record a loss on disposal of approximately €10m (£8m). The impact on the group’s cash position would be limited to a few million euros, representing the working capital needs of the divested business.