Brief: Daldrup & Söhne AG Sells Remaining Shares In Geysir Europe Including Geothermal Power Plants To Ikav Group

Daldrup & Soehne AG

13/01/2020 21:35

Jan 13 (Reuters) - Daldrup & Soehne AG  4DSG.DE :
    * DGAP-ADHOC: DALDRUP & SÖHNE AG SELLS REMAINING SHARES IN
GEYSIR
EUROPE INCLUDING THE GEOTHERMAL POWER PLANTS TO IKAV GROUP
    * SIGNED A CONTRACT WITH IKAV INVEST S.À.R.L., LUXEMBOURG,
FOR
SALE OF REMAINING SHARES (48.944 %) IN GEYSIR EUROPE GMBH
    * AGREEMENT INCLUDES SALE OF TAUFKIRCHEN AND LANDAU POWER
PLANTS
    * INITIALLY, SELLER WILL RECEIVE A PURCHASE PRICE PAYMENT OF
EUR
1.0 MILLION UNDER THIS AGREEMENT
    * ADDITIONAL PAYMENTS ARE LINKED TO ACHIEVEMENT OF DEFINED
PRODUCTIVITY LEVELS OF TWO POWER PLANTS IN FUTURE
    * FURTHER CLAIMS OF DALDRUP & SÖHNE COMPANIES AGAINST SOLD
COMPANIES WILL BE SETTLED IN COURSE OF COMING YEARS
    * ECONOMIC TRANSFER OF SHARES WILL TAKE PLACE WITH EFFECT
FROM 31
DECEMBER 2019
    * SALE IS A MAJOR STEP TOWARDS DEBT REDUCTION OF DALDRUP
GROUP IN
AMOUNT OF APPROXIMATELY EUR 42 MILLION
    * DALDRUP & SOEHNE- ON BASIS OF PRELIMINARY RESULTS
AVAILABLE AT
END OF NOV 2019, CO WILL REPORT A NEGATIVE EBIT RESULT FOR FY
2019 OF ABOUT EUR 14 MILLION

Source text for Eikon:  ID:nEQbG3rSba 
Further company coverage:  4DSG.DE 

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