Brief: Santa Fe Group Announces Sale Of Their Immigration Business

Det Oestasiatiske Kompagni A/S

03/12/2018 13:41

Dec 3 (Reuters) - Santa Fe Group A/S  SFGR.CO :
    * REG-SANTA FE GROUP ANNOUNCES THE SALE OF THEIR IMMIGRATION
BUSINESS - COMPANY ANNOUNCEMENT NO 11/2018
    * REG-SANTA FE GROUP ANNOUNCES THE SALE OF THEIR IMMIGRATION
BUSINESS - COMPANY ANNOUNCEMENT NO 11/2018
    * TRANSACTION WILL BE IN FORM OF AN ASSET SALE AND IS
EXPECTED TO
CLOSE DURING Q1 2019
    * TRANSACTION REMAINS SUBJECT TO FINAL AGREEMENT BETWEEN
PARTIES.
    * DIVESTMENT IS EXPECTED TO RESULT IN A DIVESTMENT GAIN OF
APPROXIMATELY EUR 50M AND NET PROCEEDS AFTER TAX OF AROUND EUR
40M
    * ASSETS THAT COMPRISE GROUP'S IMMIGRATION BUSINESS WILL BE
ACQUIRED BY CIBT AGAINST A CASH CONSIDERATION OF EUR 52M
    * ACTIVITIES BEING SOLD WERE EXPECTED TO GENERATE A
FULL-YEAR
REVENUE OF AROUND EUR 23M AND A CONTRIBUTION OF AROUND EUR 7M IN
2018
    * TRANSACTION IS NOT EXPECTED TO IMPACT SANTA FE GROUP'S
FULL-YEAR
GUIDANCE FOR REVENUE AND EBITDA BEFORE SPECIAL ITEMS FOR 2018
    * NET GAIN ON DIVESTMENT WILL BE RECOGNISED AS SPECIAL ITEMS
IN
2019
    * NET GAIN ON DIVESTMENT WILL BE RECOGNISED AS SPECIAL ITEMS
IN
2019.

Source text for Eikon:  ID:nGNE7x4jXR 
Further company coverage:  SFGR.CO 

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