DGAP-Adhoc: Vossloh Aktiengesellschaft: Vossloh signs contract on the divestiture of its Locomotives business
DGAP-Ad-hoc: Vossloh Aktiengesellschaft / Key word(s): Mergers & Acquisitions
Today, Vossloh AG signed a contract for the sale of its Locomotives business unit, currently reported as discontinued operations, to CRRC Zhuzhou Locomotive Co., Ltd., Zhuzhou, China (CRRC ZELC), a subsidiary of the China Railway Rolling Stock Corporation Ltd. (CRRC). CRRC is the largest rolling stock manufacturer in the world. The agreed purchase price is still subject to adjustment at the closing date, depending on the development of various balance sheet positions, and is projected to amount to a low single-digit million figure. Vossloh is under this agreement due to receive proceeds from the future sale of certain assets, resulting in expected cash inflows of approx. EUR10 million in the next few years. On this basis, Vossloh expects an additional negative impact on the result from discontinued operations in the amount of approx. EUR30 to 35 million. CRRC ZELC has also contractually agreed to take over all guarantees and sureties that Vossloh AG had taken on for the Locomotives business unit. The economic transfer to the buyer will take place once the transaction is completed. The Supervisory Board of Vossloh AG has already approved the divestiture. Until the transaction is completed, various conditions must still be fulfilled. The transaction is still subject to authorization by the respective authorities in Europe and China, specifically merger control and foreign trade law clearances as well as standard approvals required from the Chinese authorities. Completion is expected in the next few months.
Dr. Daniel Gavranovic
26-Aug-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Phone:||+49 (0)2392 52 - 359|
|Fax:||+49 (0)2392 52 - 219|
|Listed:||Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||863219|
|End of Announcement||DGAP News Service|
863219 26-Aug-2019 CET/CEST
Nachrichten zu Vossloh AGmehr Nachrichten
Analysen zu Vossloh AGmehr Analysen
Dow macht fester Feierabend -- SMI beendet den Handel über 10'000 Punkten -- DAX letztlich fester -- Asiatische Indizes schliessen uneinheitlich
Börse aktuell - Live Ticker
Am heimischen Aktienmarkt herrschte durch das Brexit-Chaos Unsicherheit unter den Anlegern. Der DAX zeigte sich am Mittwoch letztlich mit freundlicher Tendenz. Die US-Börsen verbuchten nur marginale Ausschläge. Die Börsen in Fernost wiesen zur Wochenmitte verschiedene Vorzeichen aus.