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JDC Group AG
M&A Activity • Feb 11, 2021
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M&A Activity
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Ad-hoc | 11 February 2021 21:15
JDC Group AG: JDC Group AG and Provinzial Group agree on the creation of a joint venture and sign a letter of intent
JDC Group AG / Key word(s): Alliance
JDC Group AG: JDC Group AG and Provinzial Group agree on the creation of a joint venture and sign a letter of intent
11-Feb-2021 / 21:15 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Public disclosure of inside information in accordance with Article 17 of Regulation (EU) No. 596/2014
JDC Group AG and Provinzial Group agree on the creation of a joint venture and sign a letter of intent
Wiesbaden, Germany, 11 February 2021 – JDC Group AG and an affiliate of Provinzial Holding AG are in negotiations to agree a long-term, extensive collaboration with a view to processing insurance products in Provinzial’s business region. A joint venture is to be created for the purpose.
JDC and Provinzial today reached an agreement on the key contractual terms and signed a letter of intent.
The purpose of the joint venture is to process insurance products beyond the Provinzial product range for retail customers within the savings banks distribution in Provinzial’s business region. The joint venture involves creating an interface to the savings banks’ insurance platform S-Versicherungsmanager (insurance manager), which is to become the central distribution platform for public insurance companies providing insurance products to retail customers.
The Management Board of JDC Group AG expects the formation of the joint venture to go ahead, although no collaboration agreement has yet been signed and the agreement is subject to approval by the boards of both parties.
If the joint venture takes effect, the Management Board of JDC Group AG expects within the next five years to connect around 100 savings banks, adding roughly a million new JDC platform customers and resulting in a considerable increase in revenues and profits.
Contact:
JDC Group AG
Ralf Funke
Investor Relations
Phone: +49 611 335322-00
Email: [email protected]
11-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | JDC Group AG |
| Söhnleinstraße 8 | |
| 65201 Wiesbaden | |
| Germany | |
| Phone: | +49 (0) 611 335322-00 |
| Fax: | +49 (0) 611 335322-09 |
| E-mail: | [email protected] |
| Internet: | http://www.jdcgroup.de |
| ISIN: | DE000A0B9N37 |
| WKN: | A0B9N3 |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1167870 |
| End of Announcement | DGAP News Service |