business, Spectrum will be contributing an additional US $200 million to Energizer in connection with the divestiture of the Varta Business. Anticipated net proceeds from the divestiture of the Varta Business are consistent with the assumptions we incorporated in our previously disclosed outlook for our leverage ratio at the end of Fiscal 2019. As a result of the transaction, Energizer expects to record a loss related to the divestiture in discontinued operations during the third fiscal quarter.
Energizer expects to close the transaction shortly after customary closing conditions are met and upon receipt of the EC’s final regulatory approval.
Cautionary Note Regarding Forward-Looking Statements.
This press release contains both historical and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements about anticipated proceeds. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “hopes,” “estimates,” “intends,” “plans,” “goals,” “believes,” “continue” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Any statements that are not statements of historical fact should be considered to be forward-looking statements. Any such forward looking statements are made based on information currently known and are subject to various risks and uncertainties. Risks and uncertainties to which these forward-looking statements are subject include, without limitation: (1) the proposed transaction may not be completed on the anticipated terms or at all, (2) required regulatory approvals, including antitrust approvals, are not obtained, or that in order to obtain such regulatory approvals, conditions are imposed that adversely affect the anticipated benefits from the proposed transactions or cause the parties to abandon the proposed transaction, (3) a condition to closing of the proposed transaction may not be satisfied, (4) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the transactions, (5) risks associated with third party contracts containing consent and/or other provisions that may be triggered by the proposed transactions, (6) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the transaction, (7) negative effects of the announcement or the consummation of the transaction on the market price of Energizer’s common stock, (8) the potential impact of unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition and losses on the future prospects, business and management strategies for the management, expansion and growth of Energizer’s operations after the consummation of the transaction and on the other conditions to the completion of the proposed transaction, (9) the risk that disruptions from the proposed transactions will harm Energizer’s business, including current plans and operations, (10) unexpected costs, charges or
