Brief: Teleste Says Has Signed Agreement To Sell Its Services Business In Germany To Circet

Teleste Oyj

03/10/2020 02:27

Oct 2 (Reuters) - Teleste Oyj  TLT1V.HE :
    * REG-TELESTE HAS SIGNED AN AGREEMENT TO SELL ITS SERVICES
BUSINESS IN GERMANY TO CIRCET
    * PRELIMINARY NET PURCHASE PRICE IS EUR 8.0 MILLION, WHICH
WILL BE
PAID IN CASH AT CLOSING
    * CLOSING OF SHARE PURCHASE AGREEMENT IS ESTIMATED TO
INCREASE
FINANCIAL ASSETS OF TELESTE GROUP APPROXIMATELY BY EUR 7 MILLION
    * CO WILL RECOGNIZE AN ESTIMATED IMPAIRMENT LOSS ON DISPOSAL
OF
DISCONTINUED OPERATIONS OF EUR 6-8 MILLION IN ITS Q3 2020
INTERIM REPORT
    * EXTRAORDINARY LOSS WILL SIGNIFICANTLY DECREASE PARENT
COMPANY
EQUITY, WHICH IS ESTIMATED TO BE EUR 27 MILLION AFTER DIVESTMENT

Source text for Eikon:  ID:nGNEbD2Mtz 
Further company coverage:  TLT1V.HE 

 ((Reuters.Briefs@thomsonreuters.com;))