Internet Capital Group: Beteiligung an RightWorks und Harbour Ring - 500 Beiträge pro Seite | Diskussion im Forum
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ISIN: US0050941071 · WKN: A12A4C
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Letzter Kurs 22.02.18 Tradegate
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FeedbackDer führende B2B-Venture Fund Internet Capital Group übernimmt für 22 Mio. Dollar in bar - sowie für 635 Mio. Dollar in Aktien - die Mehrheit an der privaten Gesellschaft RightWorks.
RightWorks entwickelt und vertreibt unter anderem eProcurement Software. Ferner beteiligt sich ICG mit 55% an dem Unternehmen Harbour Ring International, welche bisher als Spielzeughersteller fungiert. Das Unternehmen soll anschließend in ICG Asia Works umbenannt werden. ICG wird dabei 150 Mio. Dollar für die Übernahme der Mehrheit an ICG Asia Works aufwenden.
DAS IST NICHT NUR EINE BETEILIGUNG
Internet Capital Group and Hutchison Whampoa Form Two New Companies to Tap Tremendous B-2-B E-Commerce Potential in Asia
HONG KONG--(BUSINESS WIRE)--March 8, 2000--Internet Capital Group (Nasdaq:ICGE), the leading business-to-business e-commerce company, and Hutchison Whampoa Ltd. (Hutchison), a US$ 65 billion Hong Kong based multi-national conglomerate, today announced that they have joined forces to sharply accelerate the pace of B-2-B e-commerce in Asia.
Together, they will launch two businesses, ICG AsiaWorks, which will incubate, acquire and build e-commerce market makers and B-2-B infrastructure companies, and an e-procurement services joint venture that will become a leading e-commerce buying and selling portal for companies in the Asia region.
Both of these companies will leverage the brand, visionary leadership, business networks, assets, and technology of Internet Capital Group (ICG) and Hutchison to encourage the growth of B-2-B e-commerce businesses. Both companies will be headquartered in Hong Kong.
"We believe there is enormous potential in Asia and we are honored to be partnering with Hutchison Whampoa to help Asian businesses tap into the world-wide power of the Internet," said Kenneth Fox, co-founder and managing director of ICG.
"Together through the formation of our e-procurement services joint venture, we will create the leading portal for entrepreneurs and large corporations to buy and sell products and services globally, reducing their procurement costs and growing their revenues. In addition, the formation of ICG AsiaWorks will bring the knowledge and resources of ICG to Asian companies and provide a platform for our US and European based companies to expand to Asia."
According to Gartner Group, worldwide B-2-B e-commerce will experience explosive growth, totaling US$7.3 trillion by 2004. Approximately US$1 trillion will be generated in Asia.
"We are very excited about our new partnership with Internet Capital Group, the clear leader in the B-2-B Internet space in the United States," said Canning Fok, Hutchison Whampoa group managing director.
"We believe ICG`s success and impressive market capitalization of US$37 billion, is indicative of the tremendous potential of B-2-B e-commerce in Asia. With the powerful combination of Hutchison`s extensive network and resources, and ICG`s management and technical expertise, I am confident that we can repeat this success here in Asia."
ICG AsiaWorks
ICG, Hutchison, and Li Ka Shing Foundation Limited are acquiring a combined controlling stake in a listed company on the Hong Kong Stock Exchange, Harbour Ring International Holdings (HK: 715), and renaming it ICG AsiaWorks Limited. ICG will be the majority shareholder.
Closing is conditional upon the approval of the transaction by the shareholders of Harbour Ring (if required by the Hong Kong Stock Exchange or the Securities and Futures Commission, the independent shareholders,) listing approval from the Hong Kong Stock Exchange and the granting of a whitewash waiver from the Securities and Futures Commission, as well as certain other conditions.
ICG AsiaWorks will acquire and build leading Asian-based B-2-B market makers and infrastructure companies, such as digital exchanges, consulting firms, software companies, and outsourced service providers. In addition, ICG AsiaWorks will operate several business incubation centers in Hong Kong and Greater China that will serve as a platform for bringing Internet Capital Group`s market makers and partner companies to Hong Kong and Greater China.
The incubation centers will also start new Asian-based companies. ICG AsiaWorks will accelerate the development of these companies by providing strategy, technology and executive recruiting, in addition to the global operational expertise of ICG`s executive team and 55 partner companies.
E -Procurement services company
In addition to ICG AsiaWorks, ICG, Hutchison and Cheung Kong have signed an agreement to establish an e-procurement services company that will be the definitive neutral B-2-B buying and selling portal in Asia. Closing is expected in April, 2000.
The founding partners plan to bring additional large corporations into the joint venture, which initially will tap into the buying power of Hutchison, Cheung Kong and their network of companies, and the leading e-procurement know-how of ICG and its partner network.
"We are confident that this e-procurement services company will capture a large portion of the B-2-B e-commerce activities in the region, and believe that the company could some day be a candidate for a public offering," said Fox of ICG.
About Hutchison Whampoa Limited
Hutchison Whampoa Limited (http://www.hutchison-whampoa.com), with a current market capitalization of US$62 billion, is a Hong Kong-based conglomerate with origins dating back to the 1800s. Hutchison is part of the Li Ka-shing group of companies, which together represent 16% of the total market capitalization of the Hong Kong stock market. Hutchison`s Internet related operations have been growing rapidly.
The Company has teamed up with Global Crossing to further expand its global connectivity and to pursue fibre optic broadband network opportunities in the Greater China Region. Cooperation with NTT DoCoMo, which owns 19% of Hutchison`s mobile communications businesses in Hong Kong, offers its customers advanced mobile Internet opportunities.
Hutchison has recently entered into an alliance with Priceline.com to introduce the buyer-driven e-commerce system to Asia. It has also teamed up with DLJdirect to bring on-line investment services to the region. With over 80,000 employees worldwide, Hutchison operates five core businesses in 26 countries: ports and related services; telecommunications and Internet; property and hotel development and investments; retail, manufacturing and other services; and energy and infrastructure.
About Internet Capital Group
Internet Capital Group (http://www.internetcapital.com) is an Internet company actively engaged in business-to-business e-commerce through a network of partner companies. It provides operational assistance, capital support, industry expertise, and a strategic network of business relationships intended to maximize the long-term market potential of more than 55 business-to-business e-commerce partner companies.
Headquartered in Wayne, Pa., Internet Capital Group has offices in San Francisco, Boston, Seattle and London.
Statements made in this press release that state the Company`s or management`s intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company`s actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in the United States and other countries; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company`s filings with the Securities and Exchange Commission. (This disclaimer clause applies to the United States only.)
Internet Capital Group and Hutchison Whampoa Form Two New Companies to Tap Tremendous B-2-B E-Commerce Potential in Asia
HONG KONG--(BUSINESS WIRE)--March 8, 2000--Internet Capital Group (Nasdaq:ICGE), the leading business-to-business e-commerce company, and Hutchison Whampoa Ltd. (Hutchison), a US$ 65 billion Hong Kong based multi-national conglomerate, today announced that they have joined forces to sharply accelerate the pace of B-2-B e-commerce in Asia.
Together, they will launch two businesses, ICG AsiaWorks, which will incubate, acquire and build e-commerce market makers and B-2-B infrastructure companies, and an e-procurement services joint venture that will become a leading e-commerce buying and selling portal for companies in the Asia region.
Both of these companies will leverage the brand, visionary leadership, business networks, assets, and technology of Internet Capital Group (ICG) and Hutchison to encourage the growth of B-2-B e-commerce businesses. Both companies will be headquartered in Hong Kong.
"We believe there is enormous potential in Asia and we are honored to be partnering with Hutchison Whampoa to help Asian businesses tap into the world-wide power of the Internet," said Kenneth Fox, co-founder and managing director of ICG.
"Together through the formation of our e-procurement services joint venture, we will create the leading portal for entrepreneurs and large corporations to buy and sell products and services globally, reducing their procurement costs and growing their revenues. In addition, the formation of ICG AsiaWorks will bring the knowledge and resources of ICG to Asian companies and provide a platform for our US and European based companies to expand to Asia."
According to Gartner Group, worldwide B-2-B e-commerce will experience explosive growth, totaling US$7.3 trillion by 2004. Approximately US$1 trillion will be generated in Asia.
"We are very excited about our new partnership with Internet Capital Group, the clear leader in the B-2-B Internet space in the United States," said Canning Fok, Hutchison Whampoa group managing director.
"We believe ICG`s success and impressive market capitalization of US$37 billion, is indicative of the tremendous potential of B-2-B e-commerce in Asia. With the powerful combination of Hutchison`s extensive network and resources, and ICG`s management and technical expertise, I am confident that we can repeat this success here in Asia."
ICG AsiaWorks
ICG, Hutchison, and Li Ka Shing Foundation Limited are acquiring a combined controlling stake in a listed company on the Hong Kong Stock Exchange, Harbour Ring International Holdings (HK: 715), and renaming it ICG AsiaWorks Limited. ICG will be the majority shareholder.
Closing is conditional upon the approval of the transaction by the shareholders of Harbour Ring (if required by the Hong Kong Stock Exchange or the Securities and Futures Commission, the independent shareholders,) listing approval from the Hong Kong Stock Exchange and the granting of a whitewash waiver from the Securities and Futures Commission, as well as certain other conditions.
ICG AsiaWorks will acquire and build leading Asian-based B-2-B market makers and infrastructure companies, such as digital exchanges, consulting firms, software companies, and outsourced service providers. In addition, ICG AsiaWorks will operate several business incubation centers in Hong Kong and Greater China that will serve as a platform for bringing Internet Capital Group`s market makers and partner companies to Hong Kong and Greater China.
The incubation centers will also start new Asian-based companies. ICG AsiaWorks will accelerate the development of these companies by providing strategy, technology and executive recruiting, in addition to the global operational expertise of ICG`s executive team and 55 partner companies.
E -Procurement services company
In addition to ICG AsiaWorks, ICG, Hutchison and Cheung Kong have signed an agreement to establish an e-procurement services company that will be the definitive neutral B-2-B buying and selling portal in Asia. Closing is expected in April, 2000.
The founding partners plan to bring additional large corporations into the joint venture, which initially will tap into the buying power of Hutchison, Cheung Kong and their network of companies, and the leading e-procurement know-how of ICG and its partner network.
"We are confident that this e-procurement services company will capture a large portion of the B-2-B e-commerce activities in the region, and believe that the company could some day be a candidate for a public offering," said Fox of ICG.
About Hutchison Whampoa Limited
Hutchison Whampoa Limited (http://www.hutchison-whampoa.com), with a current market capitalization of US$62 billion, is a Hong Kong-based conglomerate with origins dating back to the 1800s. Hutchison is part of the Li Ka-shing group of companies, which together represent 16% of the total market capitalization of the Hong Kong stock market. Hutchison`s Internet related operations have been growing rapidly.
The Company has teamed up with Global Crossing to further expand its global connectivity and to pursue fibre optic broadband network opportunities in the Greater China Region. Cooperation with NTT DoCoMo, which owns 19% of Hutchison`s mobile communications businesses in Hong Kong, offers its customers advanced mobile Internet opportunities.
Hutchison has recently entered into an alliance with Priceline.com to introduce the buyer-driven e-commerce system to Asia. It has also teamed up with DLJdirect to bring on-line investment services to the region. With over 80,000 employees worldwide, Hutchison operates five core businesses in 26 countries: ports and related services; telecommunications and Internet; property and hotel development and investments; retail, manufacturing and other services; and energy and infrastructure.
About Internet Capital Group
Internet Capital Group (http://www.internetcapital.com) is an Internet company actively engaged in business-to-business e-commerce through a network of partner companies. It provides operational assistance, capital support, industry expertise, and a strategic network of business relationships intended to maximize the long-term market potential of more than 55 business-to-business e-commerce partner companies.
Headquartered in Wayne, Pa., Internet Capital Group has offices in San Francisco, Boston, Seattle and London.
Statements made in this press release that state the Company`s or management`s intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company`s actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in the United States and other countries; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company`s filings with the Securities and Exchange Commission. (This disclaimer clause applies to the United States only.)
Und das Ganze nochmal auf deutsch:
Internet Capital plant B2B Asien-Venture, Börsengang
Internet Capital Group [Nasdaq:ICGE Kurs / Chart ; News], eine führende US-Beteiligungsgesellschaft und Hutchinson Whampoa [ Kurs / Chart ; News], ein multinationales Konglomerat mit Sitz in Hongkong, haben am späten Mittwochabend ein umfassendes Joint Venture für den asiatischen Raum angekündigt. Gemeinsam werden die Unternehmen zwei Firmen gründen, die die Entwicklung des B2B-eCommerce in Asien vorantreiben sollen.
Eine der neuen Tochtergesellschaften, ICG AsiaWorks, wird Beteiligungen an B2B-Infrastrukturunternehmen eingehen. Die zweite Gesellschaft wird ein B2B-eCommerce-Portal aufbauen, über das asiatische Firmen Waren und Dienstleistungen an- und verkaufen können. Beide Firmen werden ihren Hauptsitz in Hongkong haben.
Marktforscher prognostizieren einen Anstieg des weltweiten B2B-eCommerce bis zum Jahr 2004 auf 7,3 Billionen US-Dollar. Rund eine Billion US-Dollar soll dabei auf Asien entfallen.
Internet Capital, Hutchinson und die Li Ka Shing Stiftung Ltd. werden gemeinsam eine Mehrheitsbeteiligung an dem in Hongkong gelisteten Unternehmen Harbour Ring erwerben. Anschließend wird die Firma in ICG AsiaWorks Limited umbenannt. Internet Capital wird mit 35 Prozent der größte Anteilseigner an AsiaWorks werden. Hutchinson erhält eine Beteiligung von 15 Prozent und Li Ka Shing eine von fünf Prozent. Die restlichen 45 Prozent sollen an der Börse platziert werden.
Zusätzlich zu AsiaWorks werden Internet Capital, Hutchinson und Cheung Kong [ Kurs / Chart ; News]ein Unternehmen gründen, das als neutrales B2B-Portal asiatischen Firmen die Möglichkeit des An- und Verkaufs von Waren und Dienstleistungen über das Internet ermöglicht.
© 09.03.2000 www.stock-world.de
siscoinvestor
Internet Capital plant B2B Asien-Venture, Börsengang
Internet Capital Group [Nasdaq:ICGE Kurs / Chart ; News], eine führende US-Beteiligungsgesellschaft und Hutchinson Whampoa [ Kurs / Chart ; News], ein multinationales Konglomerat mit Sitz in Hongkong, haben am späten Mittwochabend ein umfassendes Joint Venture für den asiatischen Raum angekündigt. Gemeinsam werden die Unternehmen zwei Firmen gründen, die die Entwicklung des B2B-eCommerce in Asien vorantreiben sollen.
Eine der neuen Tochtergesellschaften, ICG AsiaWorks, wird Beteiligungen an B2B-Infrastrukturunternehmen eingehen. Die zweite Gesellschaft wird ein B2B-eCommerce-Portal aufbauen, über das asiatische Firmen Waren und Dienstleistungen an- und verkaufen können. Beide Firmen werden ihren Hauptsitz in Hongkong haben.
Marktforscher prognostizieren einen Anstieg des weltweiten B2B-eCommerce bis zum Jahr 2004 auf 7,3 Billionen US-Dollar. Rund eine Billion US-Dollar soll dabei auf Asien entfallen.
Internet Capital, Hutchinson und die Li Ka Shing Stiftung Ltd. werden gemeinsam eine Mehrheitsbeteiligung an dem in Hongkong gelisteten Unternehmen Harbour Ring erwerben. Anschließend wird die Firma in ICG AsiaWorks Limited umbenannt. Internet Capital wird mit 35 Prozent der größte Anteilseigner an AsiaWorks werden. Hutchinson erhält eine Beteiligung von 15 Prozent und Li Ka Shing eine von fünf Prozent. Die restlichen 45 Prozent sollen an der Börse platziert werden.
Zusätzlich zu AsiaWorks werden Internet Capital, Hutchinson und Cheung Kong [ Kurs / Chart ; News]ein Unternehmen gründen, das als neutrales B2B-Portal asiatischen Firmen die Möglichkeit des An- und Verkaufs von Waren und Dienstleistungen über das Internet ermöglicht.
© 09.03.2000 www.stock-world.de
siscoinvestor
By the way: Die oben gennante Harbour Ring ( Noch-Spielzeughersteller)
und zukünftige ICGE ASia Works steigt in der heutigen HongKong-sitzung um ca 490%.
Alle Achtung.
Quelle: Heut Morgen auf n-tv gehört.
Siscoinvestor
und zukünftige ICGE ASia Works steigt in der heutigen HongKong-sitzung um ca 490%.
Alle Achtung.
Quelle: Heut Morgen auf n-tv gehört.
Siscoinvestor
Internet Capital Group (ticker: ICGE, exchange: Nasdaq) News Release - Friday, March 10, 2000
--------------------------------------------------------------------------------
Internet Capital Group and Hutchison Whampoa Announce the Financials of the ICG AsiaWorks Transaction
HONG KONG--(BUSINESS WIRE)--March 10, 2000--Following the announcement made by Internet Capital Group (Nasdaq:ICGE), a leading business-to-business e-commerce company, and Hutchison Whampoa Ltd. (Hutchison), a US$65 billion Hong Kong based multi-national conglomerate, the companies would like to disclose the financials behind the ICG AsiaWorks transaction.
Acquisition Consideration
ICG US$116.8 mm
Hutchison US$17.6 mm
Li Ka-shing Foundation US$10.6 mm
Shareholding post-completion:
Internet Capital Group 55 per cent
Hutchison 15 per cent
Li Ka-shing Foundation 5 per cent
Share prices
Acquisition price HK$0.30
Closing share price (as of suspension) HK$1.23
Closing share price of investor companies
Internet Capital Group (NASDAQ:ICGE) as at 03/10 US$$143.56
Hutchison Whampoa Ltd. (HK:13) as at 03/10 HK$146.50
Opening and closing stock price of ICG AsiaWorks
Opening stock price as at 10.00 am on 10/03 HK$9.00
Closing stock price as at 4.00 pm on 10/03 HK$7.85
ICG AsiaWorks
ICG, Hutchison, and Li Ka-shing Foundation Limited are acquiring a combined controlling stake in a listed company on the Hong Kong Stock Exchange, Harbour Ring International Holdings (HK: 715), and renaming it ICG AsiaWorks Limited. ICG will be the majority shareholder. Closing is conditional upon the approval of the transaction by the shareholders of Harbour Ring (if required by the Hong Kong Stock Exchange or the Securities and Futures Commission, the independent shareholders), listing approval from the Hong Kong Stock Exchange and the granting of a whitewash waiver from the Securities and Futures Commission, as well as certain other conditions.
ICG AsiaWorks will acquire and build leading Asian-based B-2-B market makers and infrastructure companies, such as digital exchanges, consulting firms, software companies, and outsourced service providers. In addition, ICG AsiaWorks will operate several business incubation centers in Hong Kong and Greater China that will serve as a platform for bringing Internet Capital Group`s market makers and partner companies to Hong Kong and Greater China. The incubation centers will also start new Asian-based companies. ICG AsiaWorks will accelerate the development of these companies by providing strategy, technology and executive recruiting, in addition to the global operational expertise of ICG`s executive team and 55 partner companies.
About Hutchison Whampoa Limited
Hutchison Whampoa Limited (http://www.hutchison-whampoa.com), with a current market capitalization of US$65 billion, is a Hong Kong-based conglomerate with origins dating back to the 1800s. Hutchison is part of the Li Ka-shing group of companies, which together represent 16% of the total market capitalization of the Hong Kong stock market. Hutchison`s Internet related operations have been growing rapidly. The Company has teamed up with Global Crossing to further expand its global connectivity and to pursue fibre optic broadband network opportunities in the Greater China Region. Cooperation with NTT DoCoMo, which owns 19% of Hutchison`s mobile communications businesses in Hong Kong, offers its customers advanced mobile Internet opportunities. Hutchison has recently entered into an alliance with Priceline.com to introduce the buyer-driven e-commerce system to Asia. It has also teamed up with DLJdirect to bring on-line investment services to the region. With over 80,000 employees worldwide, Hutchison operates five core businesses in 26 countries: ports and related services; telecommunications and Internet; property and hotel development and investments; retail, manufacturing and other services; and energy and infrastructure.
siscoinvestor
--------------------------------------------------------------------------------
Internet Capital Group and Hutchison Whampoa Announce the Financials of the ICG AsiaWorks Transaction
HONG KONG--(BUSINESS WIRE)--March 10, 2000--Following the announcement made by Internet Capital Group (Nasdaq:ICGE), a leading business-to-business e-commerce company, and Hutchison Whampoa Ltd. (Hutchison), a US$65 billion Hong Kong based multi-national conglomerate, the companies would like to disclose the financials behind the ICG AsiaWorks transaction.
Acquisition Consideration
ICG US$116.8 mm
Hutchison US$17.6 mm
Li Ka-shing Foundation US$10.6 mm
Shareholding post-completion:
Internet Capital Group 55 per cent
Hutchison 15 per cent
Li Ka-shing Foundation 5 per cent
Share prices
Acquisition price HK$0.30
Closing share price (as of suspension) HK$1.23
Closing share price of investor companies
Internet Capital Group (NASDAQ:ICGE) as at 03/10 US$$143.56
Hutchison Whampoa Ltd. (HK:13) as at 03/10 HK$146.50
Opening and closing stock price of ICG AsiaWorks
Opening stock price as at 10.00 am on 10/03 HK$9.00
Closing stock price as at 4.00 pm on 10/03 HK$7.85
ICG AsiaWorks
ICG, Hutchison, and Li Ka-shing Foundation Limited are acquiring a combined controlling stake in a listed company on the Hong Kong Stock Exchange, Harbour Ring International Holdings (HK: 715), and renaming it ICG AsiaWorks Limited. ICG will be the majority shareholder. Closing is conditional upon the approval of the transaction by the shareholders of Harbour Ring (if required by the Hong Kong Stock Exchange or the Securities and Futures Commission, the independent shareholders), listing approval from the Hong Kong Stock Exchange and the granting of a whitewash waiver from the Securities and Futures Commission, as well as certain other conditions.
ICG AsiaWorks will acquire and build leading Asian-based B-2-B market makers and infrastructure companies, such as digital exchanges, consulting firms, software companies, and outsourced service providers. In addition, ICG AsiaWorks will operate several business incubation centers in Hong Kong and Greater China that will serve as a platform for bringing Internet Capital Group`s market makers and partner companies to Hong Kong and Greater China. The incubation centers will also start new Asian-based companies. ICG AsiaWorks will accelerate the development of these companies by providing strategy, technology and executive recruiting, in addition to the global operational expertise of ICG`s executive team and 55 partner companies.
About Hutchison Whampoa Limited
Hutchison Whampoa Limited (http://www.hutchison-whampoa.com), with a current market capitalization of US$65 billion, is a Hong Kong-based conglomerate with origins dating back to the 1800s. Hutchison is part of the Li Ka-shing group of companies, which together represent 16% of the total market capitalization of the Hong Kong stock market. Hutchison`s Internet related operations have been growing rapidly. The Company has teamed up with Global Crossing to further expand its global connectivity and to pursue fibre optic broadband network opportunities in the Greater China Region. Cooperation with NTT DoCoMo, which owns 19% of Hutchison`s mobile communications businesses in Hong Kong, offers its customers advanced mobile Internet opportunities. Hutchison has recently entered into an alliance with Priceline.com to introduce the buyer-driven e-commerce system to Asia. It has also teamed up with DLJdirect to bring on-line investment services to the region. With over 80,000 employees worldwide, Hutchison operates five core businesses in 26 countries: ports and related services; telecommunications and Internet; property and hotel development and investments; retail, manufacturing and other services; and energy and infrastructure.
siscoinvestor
Trading Spotlight
Internet Capital Group to Receive Approximately 1.45 Million Shares of Ariba Stock in Exchange for its Ownership Interest in Tradex
WAYNE, Pa.--(BUSINESS WIRE)--March 13, 2000--Internet Capital Group (Nasdaq: ICGE - news), a leading business-to-business (B2B) e-commerce company, today announced that in connection with the closing of Ariba`s acquisition of Tradex Technologies, Inc., which was announced by Ariba on March 10, 2000, it will receive approximately 1.45 million shares of Ariba, Inc. (NASDAQ: ARBA - news) in exchange for its ownership interest in Tradex.
Based on Ariba`s closing price of $320.88 on March 9, 2000, Internet Capital Group will record an after-tax gain related to this transaction of approximately $290 million during the quarter ending March 31, 2000.
Prospectively, as shares of Ariba stock are sold, Internet Capital Group will record realized after-tax gains or losses as measured by the difference between the respective selling prices and the acquisition transaction closing price of $320.88 mentioned in the prior paragraph. Proceeds from the sale of Ariba stock will be used principally to acquire ownership interests in additional partner companies and to increase ownership positions in existing partner compamies.
Wirklich nicht aufregend. Aber wenn man schon was über ICGE lesen will...
MfG siscoinvestor
WAYNE, Pa.--(BUSINESS WIRE)--March 13, 2000--Internet Capital Group (Nasdaq: ICGE - news), a leading business-to-business (B2B) e-commerce company, today announced that in connection with the closing of Ariba`s acquisition of Tradex Technologies, Inc., which was announced by Ariba on March 10, 2000, it will receive approximately 1.45 million shares of Ariba, Inc. (NASDAQ: ARBA - news) in exchange for its ownership interest in Tradex.
Based on Ariba`s closing price of $320.88 on March 9, 2000, Internet Capital Group will record an after-tax gain related to this transaction of approximately $290 million during the quarter ending March 31, 2000.
Prospectively, as shares of Ariba stock are sold, Internet Capital Group will record realized after-tax gains or losses as measured by the difference between the respective selling prices and the acquisition transaction closing price of $320.88 mentioned in the prior paragraph. Proceeds from the sale of Ariba stock will be used principally to acquire ownership interests in additional partner companies and to increase ownership positions in existing partner compamies.
Wirklich nicht aufregend. Aber wenn man schon was über ICGE lesen will...
MfG siscoinvestor
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