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RHJ International SA: RHJ International enters into non-binding letter of intent to purchase majority of assets from Metaldyne

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^{Published in Business and Finance on Wednesday, May 27th 2009 at 23:37 GMT, Last Modified on 2009-05-27 23:38:04 by Market Wire}  

BRUSSELS, BELGIUM--(Marketwire - May 28, 2009) -

RHJ International ("RHJI") announced today that Metaldyne Corporation ("Metaldyne"), a wholly owned subsidiary of Asahi Tec Corporation ("Asahi Tec"), has filed a voluntary petition to reorganize under Chapter 11 of the U.S. Bankruptcy Code. Asahi Tec, which was not part of the filing, is owned 60.1% by RHJI, and is one of six RHJI portfolio companies. Asahi Tec's assets and capital structure are separate from Metaldyne, and it is now focusing on its Japanese business needs and opportunities. Metaldyne, filed for Chapter 11 in order to address its liquidity needs and to facilitate a financial restructuring. Further details can be found in the attached press release from Metaldyne.

RHJI also announced that it has signed a non-binding Letter of Intent ("LOI") to purchase a majority of Metaldyne's assets under a court-supervised sale process pursuant to Section 363 of the U.S. Bankruptcy Code.

RHJ International (Euronext: RHJI) is a diversified holding company focused on creating long-term value for its shareholders by acquiring and operating businesses in attractive industries. For further information visit [ www.rhji.com ].

 Arnaud Denis Investor Relations Director RHJ International Tel. +32 2 643 60 13 [ http://www.rhji.com ][ investor-relations@rhji.com ]

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Full Press Release in PDF: [ http://hugin.info/135946/R/1318086/307663.pdf ]

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