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BRIEF-Elica sells German unit Exklusiv-Hauben Gutmann to Manuel Fernandez Salgado
August 28, 2017 / 4:07 PM / 3 months ago

BRIEF-Elica sells German unit Exklusiv-Hauben Gutmann to Manuel Fernandez Salgado

Aug 28 (Reuters) - ELICA SPA:

* SELLS 100% OF THE GERMAN SUBSIDIARY EXKLUSIV-HAUBEN GUTMANN GMBH

* CONSIDERATION FOR 100% OF GERMAN SUBSIDIARY TOTALS EUR 2.5 MILLION, TO BE PAID IN FIVE TRANCHES AT EACH YEAR-END FROM DEC 31, 2019 UNTIL DEC 31, 2023

* IN ADDITION, ELICA CEDED TO MANUEL FERNANDEZ AN EXKLUSIV-HAUBEN GUTMANN FINANCIAL RECEIVABLE OF EUR 11.15 MILLION FOR CONSIDERATION OF EUR 1

* EXPECTS IMPROVEMENT ON 2017-2019 OBJECTIVES ANNOUNCED ON MAY 15 IN TERMS OF MARGIN GROWTH FOR 3-YEAR PERIOD AND FOR RETURN ON NET CAPITAL EMPLOYED Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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