Share Issue/Capital Change • Jul 31, 2008
Share Issue/Capital Change
Open in ViewerOpens in native device viewer
News Details
Ad-hoc | 31 July 2008 15:44
CFC Industriebeteiligungen sells 49 % portfolio stake to international investor
CFC Industriebeteiligungen GmbH & Co. KGaA / Strategic Company Decision/Disposal
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
*************
CFC sells 49 % portfolio stake to international investor
Dortmund, July 31, 2008
Palace Park Investments Ltd., Jersey has acquired a 49% interest in the
holding portfolio of CFC Industriebeteiligungen GmbH & Co. KGaA (ISIN:
DE000A0LBKW6; Frankfurt Stock Exchange/ General Standard) by notarial deed
signed today.
The purchase price is EUR 22.54 million, of which an amount of close to EUR
13.5 million was paid at signing of the contract. The remaining amount is
payable until the end of 2009. In case of a future profitable exit of the
segment 'Fashion Group', currently including the companies delmod
international GmbH & Co. KG and Hirsch Vertriebs GmbH, the agreement
provides for a disproportion-ately higher share of the exit proceeds to be
allocated to CFC Industriebeteiligungen due to this segment’s particularly
bright prospects.
Palace Park Investments Ltd. is an acquisition vehicle specially
established for this transaction. The company is funded by Greenpark Funds,
Guernsey, specializing in secondary investments, i.e. investments in
existing portfolios, advised in this transaction by London based Greenpark
Capital Ltd..
CFC Industriebeteiligungen retains management control over the
subsidiaries, thus providing for the companies’ consistent development. In
concluding this transaction, new partner of CFC Industriebeteiligungen
Greenpark has made the commitment to support the continued development and
growth of the portfolio companies.
Information and Explaination of the Issuer to this News:
Highly pleased with the professional execution process of the transaction
Marcus Linnepe, CEO of CFC Industriebeteiligungen, commented: 'With
Greenpark we have found the right partner for our subsidiaries’ continued
development. CFC will retain management control and maintain the course it
has set. The transaction makes clear that our investment approach yields
sustainable and extremely positive returns across the entire portfolio,
both for our holdings and our shareholders. With the transaction we recover
more than the total investment cost for the entire portfolio within a short
time frame, the average holding period of the portfolio is just one year.
After this transaction CFC will continue to hold a 51% interest in all
portfolio assets and participate in the future success of the companies. We
will use the cash proceeds from the sale on a selective basis for new
acquisitions and continue the success story.'
Contact:
CFC Industriebeteiligungen GmbH & Co. KGaA
Dr. Frank Nellißen
Chief Financial Officer
Tel: +49 231 222 40 500
eMail: [email protected]
Language: English
Issuer: CFC Industriebeteiligungen GmbH & Co. KGaA
Westfalendamm 9
44141 Dortmund
Deutschland
Phone: +49 (0)231-222 40 500
Fax: +49 (0)231-222 40 501
E-mail: [email protected]
Internet: www.cfc-eu.com
ISIN: DE000A0LBKW6
WKN: A0LBKW
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.