B.R.A.I.N. Biotechnology Research And Information Network AG: BRAIN AG sells its majority stake in Monteil Cosmetic International GmbH
B.R.A.I.N. Biotechnology Research And Information Network AG / Key word(s): Disposal
BRAIN AG sells its majority stake in Monteil Cosmetic International GmbH
The Supervisory Board of BRAIN AG was informed about the process and approved the transaction in advance by means of a circular procedure.
As of the fourth quarter of the current financial year, the loss-making division will therefore no longer be consolidated in the consolidated financial statements, thus unburdening future earnings accordingly.
The sale of Monteil and the corresponding cosmetics end customer B2C business is part of the strategy to concentrate the business of BRAIN AG and its affiliated companies on B2B business with industrial partners. Taking into account the purchase price, the sale of the Monteil shares will result in an impairment of intangible assets (goodwill) in the expected amount of EUR 1.7 million and an impairment of financial assets in the expected amount of EUR 0.2-0.3 million. The transaction has no substantial impact on the BRAIN Group's objective of achieving a double-digit increase in total operating performance and improved EBITDA at Group level in the current 2018/19 financial year.
Information and Explanation of the Issuer to this News:
|Company:||B.R.A.I.N. Biotechnology Research And Information Network AG|
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|Phone:||+49 (0) 62 51 / 9331-0|
|Fax:||+49 (0) 62 51 / 9331-11|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||830329|
|End of Announcement||DGAP News Service|