Brief: HOCHDORF sells Pharmalys stake to Amir Mechria

Centiel AG

08/12/2019 15:22

Dec 8 (Reuters) - Hochdorf Holding AG  HOCN.S :
    * HOCHDORF HOLDING-HOCHDORF GROUP BOARD SOLD 51% MAJORITY
STAKE IN
COMPANIES OF PHARMALYS GROUP TO PHARMALYS INVEST HOLDING,
CONTROLLED BY AMIR MECHRIA
    * HOCHDORF- COOPERATION BETWEEN HOCHDORF GROUP AND PHARMALYS
GROUP
IS TO BE CONTINUED
    * HOCHDORF HOLDING - PHARMALYS INVEST HOLDING REMAINS
LARGEST
SHAREHOLDER OF HOCHDORF GROUP
    * HOCHDORF HOLDING-AFTER EXAMINING VARIOUS OPTIONS,
PHARMALYS
SHARES HAVE NOW BEEN SOLD;  SELLING PRICE IS AROUND CHF 100
MILLION
    * HOCHDORF- FOCUS OF HOCHDORF GROUP ON HIGH-GROWTH BABY CARE
DIVISION REMAINS UNCHANGED DESPITE SALE OF PHARMALYS SHARES
    * HOCHDORF- PHARMALYS INTENDS TO CONTINUE MARKETING SWISS
BABY
FOOD PRODUCED BY HOCHDORF
    * HOCHDORF- HOCHDORF WILL IN FUTURE INCREASINGLY WORK WITH
TRADITIONAL SWISS BRAND BIMBOSAN AND BABINA BRAND
    * HOCHDORF - WITH SALE OF PHARMALYS INVESTMENT, HOCHDORF
GROUP
REGAINS ITS STRATEGIC FLEXIBILITY AND TAKES AN IMPORTANT STEP
TOWARDS FINANCIAL RECOVERY
    * A CLEARLY NEGATIVE RESULT IS STILL EXPECTED FOR CURRENT
FISCAL
YEAR
    * HOCHDORF-NEGATIVE RESULT FOR FY IS EXPECTED DUE TO
CURRENTLY LOW
SALES IN BABY CARE SEGMENT & TECHNICAL CHALLENGES BY NEW SPRAY
TOWER LINE IN SULGEN

Source text for Eikon:  ID:nPex9dVYwa 
Further company coverage:  HOCN.S 

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