Brief: Elica sells German unit Exklusiv-Hauben Gutmann to Manuel Fernandez Salgado
28/08/2017 16:42
Aug 28 (Reuters) - ELICA SPA ELC.MI :
* SELLS 100% OF THE GERMAN SUBSIDIARY EXKLUSIV-HAUBEN
GUTMANN GMBH
* CONSIDERATION FOR 100% OF GERMAN SUBSIDIARY TOTALS EUR 2.5
MILLION, TO BE PAID IN FIVE TRANCHES AT EACH YEAR-END FROM DEC
31, 2019 UNTIL DEC 31, 2023
* IN ADDITION, ELICA CEDED TO MANUEL FERNANDEZ AN
EXKLUSIV-HAUBEN GUTMANN FINANCIAL RECEIVABLE OF EUR 11.15
MILLION FOR CONSIDERATION OF EUR 1
* EXPECTS IMPROVEMENT ON 2017-2019 OBJECTIVES ANNOUNCED ON
MAY 15 IN TERMS OF MARGIN GROWTH FOR 3-YEAR PERIOD AND FOR
RETURN ON NET CAPITAL EMPLOYED
Source text for Eikon: urn:newsml:reuters.com:*:nBIA6L6W14
Further company coverage: ELC.MI
(Gdynia Newsroom)
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