April 10, 2018 / 6:18 AM / 8 months ago

BRIEF-Asseco South Eastern Europe Unit Terminates Contract

April 10 (Reuters) - ASSECO SOUTH EASTERN EUROPE SA :

* SAID ON MONDAY THAT ITS UNIT, ASSECO SOUTH EASTERN EUROPE D.O.O., LJUBLJANA, HAS TERMINATED A CONTRACT WITH NOVA KREDITNA BANKA MARIBOR D.D.

* THE TERMINATION WILL AFFECT THE COMPANY’S Q1 OPERATING RESULT IN THE AMOUNT NOT HIGHER THAN EUR 0.7 MILLION

* THE AGREEMENT WAS FOR SALE OF CORE BANKING SOLUTION, ITS IMPLEMENTATION AND MAINTENANCE AND TECHNICAL SUPPORT SERVICES, THE COMPANY SAYS

* THE CONTRACT WAS TERMINATED DUE TO HIGHER IMPLEMENTATION COSTS THAN PREVIOUSLY EXPECTED

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Further company coverage: (Gdynia Newsroom)

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