Brief: Masterflex reorganizes its Russian business
02/10/2015 13:45
Oct 2 (Reuters) - Masterflex AG MZXG.DE :
* Signed an agreement to convert Russian equity interest
into an exclusive partnership with current joint venture partner
and future Russian sales partner Sovplym Ltd
* Includes sale of Masterflex SE's 51 pct stake in 000
Masterflex RUS, in which Sovplym already has a stake of 49 pct,
and conclusion of an exclusive trade partnership agreement with
Sovplym
* New sales partner will drop name "Masterflex RUS" after a
transitional period of a few months. However, Masterflex Group's
products will continue to bear its name
* Deconsolidation and deduction of all costs will leave low
six-figure proceeds for Masterflex Group
Source text for Eikon: ID:nPex7DHNqQ
Further company coverage: MZXG.DE
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