April 28, 2017 / 4:34 PM / 3 months ago

BRIEF-Mondadori sells logistics business units of Mondadori Libri and Mondadori Retail

2 Min Read

April 28 (Reuters) - Arnoldo Mondadori Editore SpA:

* Concludes agreement on the disposal of the business units involved in the logistics activities of Mondadori Libri and Mondadori Retail to Ceva Logistics Italia

* Agreement envisages the disposal of the logistics business units of Mondadori Libri and Mondadori Retail to Ceva Logistics Italia for 0.5 million euros ($544,550.00)

* Agreement envisages the disposal of Verona-based site used for the activities to Akno Trading for consideration of 6 million euros

* Akno Trading is a property company part of the Akno Group, an industrial partner of Ceva group

* Agreement envisages the conclusion of an exclusive agreement for the supply by Ceva Logistics Italia of logistics services to Mondadori's books and retail areas for 9 years

* Disposal of the site at closing date will produce a (pre-tax) gain of 4.2 million euros, already included in guidance for 2017 disclosed last March 21 Source text: www.1info.it Further company coverage: ($1 = 0.9182 euros) (Gdynia Newsroom)

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