March 13, 2017 / 7:12 AM / 4 months ago

BRIEF-Bang & Olufsen divests Czech subsidiary to Tymphany Acoustic Technology

1 Min Read

March 13 (Reuters) - Bang & Olufsen A/S:

* Divests Czech subsidiary, Bang & Olufsen S.R.O, to Tymphany Acoustic Technology

* Cash flow impact to Bang & Olufsen is 123 million Danish crowns ($17.7 million) and accounting gain is expected to be 33 million crowns

* Tymphany will produce Bang & Olufsen products in Czech factory as a trusted and selected supplier to bang & olufsen

* All of Bang & Olufsen's Czech employees will be transferred to Tymphany at time of closing Source text for Eikon:

Further company coverage: ($1 = 6.9411 Danish crowns) (Gdynia Newsroom)

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