DGAP-News GESCO AG closes mobility technology segment, undertakes largest portfolio adjustment in company history and renews outlook for financial year 2020
DGAP-News: Gesco AG / Key word(s): Disposal/Forecast
The four companies that make up the mobility technology segment as well as Frank Walz- und Schmiedetechnik GmbH and C.F.K. CNC-Fertigungstechnik Kriftel GmbH will be divested. The closing of the transaction is expected to take place for five of the six companies shortly after the signing of the contract; for Paul Beier GmbH & Co. KG from the mobility technology segment, the closing is subject to the granting of regulatory approval.
Based on the figures for financial year 2020, GESCO will thereby dispose of roughly € 90 million in Group sales and some € -15 million in Group EBIT, which consists of an operating loss of around € -1.5 million and € -13.5 million in impairment losses from impairment tests already carried out in the summer of 2020.
The purchase price amounts to € 27 million and is accompanied by a net cash inflow of € 15 million, which is partially earmarked for reduction of liabilities and partially for acquisitions. In addition, the buyer assumes net liabilities, pension obligations and lease liabilities of in total approximately € 28 million.