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DEUTZ AG
Legal Proceedings Report • Apr 17, 2018
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Legal Proceedings Report
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Ad-hoc | 17 April 2018 19:56
DEUTZ AG: Review of carrying amounts at the DEUTZ Dalian joint venture
DEUTZ AG / Key word(s): Joint Venture
DEUTZ AG: Review of carrying amounts at the DEUTZ Dalian joint venture
17-Apr-2018 / 19:56 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.
Cologne, 17 April 2018 . In the course of the review, initiated by the DEUTZ AG Board of Management, of the strategic options for the joint venture DEUTZ (Dalian) Engine Co., Ltd., headquartered in Dalian, China (‘DEUTZ Dalian’), the audit firm engaged to conduct the review notified DEUTZ AG today of the suspicion that various carrying amounts on the joint venture’s balance sheet need to be adjusted downward. According to preliminary estimates, the necessary write-down might impact the consolidated financial statements of the DEUTZ Group in the range of EUR16 million to EUR32 million. The carrying amounts in question predominantly relate to transactions carried out in 2011 to 2013. DEUTZ Dalian is accounted for under the equity method in the DEUTZ Group’s consolidated financial statements. The final results of this review are not yet available.
For further information on this DEUTZ AG ad-hoc disclosure, please contact:
Investor & Public Relations
Christian Krupp
Tel: +49 (0)221 822 5400
Fax: +49 (0)221 822 155 401
Email: [email protected]
17-Apr-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | DEUTZ AG |
| Ottostraße 1 | |
| 51149 Köln (Porz-Eil) | |
| Germany | |
| Phone: | +49 (0)221 822 0 |
| Fax: | +49 (0)221 822 3525 |
| E-mail: | [email protected] |
| Internet: | www.deutz.com |
| ISIN: | DE0006305006 |
| WKN: | 630500 |
| Indices: | SDAX |
| Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of Announcement | DGAP News Service |