October 24, 2019 / 3:50 PM / 2 months ago

BRIEF-Meyer Burger Sells Software Business To S&T

Oct 24 (Reuters) - MEYER BURGER TECHNOLOGY AG:

* IS SELLING ITS SOFTWARE BUSINESS TO S&T AG FOR CHF 14 MILLION IN CASH

* SAYS IT IS SELLING ITS SUBSIDIARY AIS AUTOMATION DRESDEN GMBH (GERMANY) TO S&T AG IN LINZ (AUSTRIA)

* TWO COMPANIES SIGNED A CONTRACT TO THIS EFFECT ON OCTOBER 24, 2019

* S&T AG IS TAKING OVER ALL BUSINESS UNITS OF AIS AS WELL AS ROUGHLY 140 EMPLOYEES

* TRANSACTION WILL THEREFORE PROBABLY BE COMPLETED TOWARDS END OF NOVEMBER 2019

* ANTICIPATES AN ACCOUNTING PROFIT ARISING FROM TRANSACTION OF AROUND CHF 2 MILLION. THIS ACCOUNTING PROFIT ARISES NET AFTER A GOODWILL RECYCLING CHARGE OF JUST UNDER CHF 5 MILLION Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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