JOIN USING Group will leave 10 of the 48 countries it currently operates in and sell 10 to 15 businesses over the next three to five years, Chief Executive Jan Hommen said on Thursday.
The company’s plan to raise 6 billion to 8 billion euros ($8.51-$11.35 billion) through asset sales, Hommen had said in a statement on the company website.
The group, which received a 10 billion euro capital injection from the Dutch government last October, unveiled a plan in April to slim down and shed assets, including the targets for proceeds and number of businesses that were to be sold.
The company has said little about the asset sales thus far, other than that it had seen some potential bidders looking for bargains and that it was biding its time.
Hommen said on Thursday, that the sales would be conducted “as market conditions permit.”
The planned divestments would reduce the company’s portfolio of businesses to 55 to 60.