M&A Activity • Oct 12, 2009
M&A Activity
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Corporate | 12 October 2009 17:09
CFC Industriebeteiligungen completes portfolio adjustment with Rosner sale
CFC Industriebeteiligungen GmbH & Co. KGaA / Disposal/Strategic Company Decision
12.10.2009
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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CFC Industriebeteiligungen completes portfolio adjustment with Rosner sale
Dortmund, October 12, 2009
CFC Industriebeteiligungen GmbH & Co. KGaA (ISIN: DE000A0LBKW6) has
completed its effort to focus entirely on its core segments Electronics and
Home & Living with companies Berndes, Elcon, and Letron as announced by the
ad hoc of July 16, 2009. As a final step, ladies' apparel manufacturer
Rosner was sold to HIC Investitionen und Consulting GmbH, Kerpen, effective
today. Confidentiality has been agreed on the purchase price.
The management of CFC decided in favor of this divestment because of the
continuing highly disappointing prospects for the fashion industry.
Rosner's revenues for fiscal year 2009 will probably turn out below
prior-year sales by a clear double digit percentage and thus significantly
below the level targeted upon acquisition once more.
CFC expects no future burdens with regard to finances or balance sheet
items whatsoever. In the context of the six-month financial statements, CFC
has already provided for the risk of probable losses from the exclusion of
consolidated companies. Even in the past the investment in Rosner did not
use up any financial resources of CFC beyond the token purchase price. CFC
is now planning to strengthen its well-defined core segments and develop
them by new selected investments.
Marcus Linnepe, CEO of CFC Industriebeteiligungen, explains: 'With this
transaction we have definitely completed our focusing on our core business.
The sale involves no burdens for our company. We are also affirmed in our
undertaking to apply accounting according to HGB in the future. For a
restructuring holding company such as CFC, HGB as financial reporting
standard reflects the risks involved in company takeovers in a much more
transparent and conservative way than IFRS do.'
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Contact:
CFC Industriebeteiligungen GmbH & Co. KGaA
Dr. Frank Nellißen
Chief Financial Officer
Tel: +49 231 222 40 502
eMail: [email protected]
12.10.2009 Financial News transmitted by DGAP
Language: English
Company: CFC Industriebeteiligungen GmbH & Co. KGaA
Westfalendamm 9
44141 Dortmund
Deutschland
Phone: +49 (0)231-22240 500
Fax: +49 (0)231-22240 501
E-mail: [email protected]
Internet: www.cfc-eu.com
ISIN: DE000A0LBKW6
WKN: A0LBKW
Listed: Regulierter Markt in Frankfurt; Freiverkehr in Berlin,
Düsseldorf, Stuttgart
End of News DGAP News-Service
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