"As part of our ongoing transformation, this divestment clearly demonstrates dormakaba's commitment to achieving leadership positions in our core markets and product clusters. This strategic approach is aimed at maximizing our resources, enhancing efficiency, and ultimately positioning dormakaba as a global industry leader," says Till Reuter, CEO of dormakaba.

Effective after closing, the local management team will officially take ownership of the business activities in the Sub-Saharan African countries. All employees of the market organization will be retained in the new business. “The dedicated management team has a deep understanding of the local market dynamics. We are pleased that this change of ownership will ensure business continuity in the region. Our Middle East and Africa market organization will continue to support the new company, and we look forward to collaborating as exclusive partners," adds Till Reuter.