Corporate | 27 September 2006 11:05
ARQUES sells first real estate with a net volume of EUR 14 million
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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ARQUES sells first real estate with a net volume of EUR 14 million
Starnberg, September 27, 2006 – The Starnberg-based equity investment
company, ARQUES Industries AG (ISIN DE0005156004), announces the first two
sales from the ARQUES group real estate portfolio with a net volume of more
than EUR 14 million. These transactions represent the first steps in the
previously announced sale of portions of the company’s real estate.
Properties of the ARQUES subsidiary, Sommer Fahrzeugbau GmbH & Co. KG in
Bremen, which were not necessary for operation, were sold by deed to the
English Halverton Group for EUR 8.15 million net. The proceeds of these
transactions remain within the ARQUES group as liquid assets. The sale
price was above book value.
The ARQUES subsidiary, ARQUANA International Print & Media AG, has also
successfully sold real estate property rights of Evry Rotatives S.A.S. in
Paris to British real estate investors. The sale only partly concerns
properties necessary for operation. In this regard long-term leases were
agreed upon on the existing level. Therefore operating profits will not be
affected in the future. As purchase price, net proceeds of EUR 6 million
were obtained. The sale price was above book value.
The ARQUES group owns real estate with a total appraisal value
significantly above EUR 100 million. Numerous investors have shown interest
in the remaining real estate. Due diligence assessments are currently
underway in this regard. Both package solutions and individual solutions
are being negotiated.
Sales proceeds are available for further acquisitions
The sales proceeds not only increase the operational earnings within the
company, but also increase the financial flexibility of ARQUES and/or
ARQUANA for further acquisitions which may possibly still be concluded in
this financial year. The executive board was pleased that both trades were
above book value. ‘This illustrates that conservative measures were applied
to the purchase price allocation.’
With the largest takeover to date, that of the former Degussa subsidiary
Oxxynova (sales volume approx. EUR 200 million), ARQUES announced the tenth
acquisition in the financial year 2006 on September 11. Thereby ARQUES has
already exceeded its goal of annualised group revenues of one billion Euro.
About ARQUES
ARQUES Industries AG, Starnberg, (www.arques.de), is a turnaround
specialist who focuses on the acquisition and the active restructuring of
companies in transitional situations, in order to develop these, with its
own team and own resources, to competitive enterprises with a positive
yield. ARQUES revitalises its subsidiaries’ potential for creating value
for the benefit of all its stakeholders, taking on the relevant social
responsibility. ARQUES has made a duty of identifying underestimated
companies with reduced survivability but with high appreciation potential,
at the same time mastering complex company structures and transitional
situations. The shares of ARQUES Industries AG are traded in the regulated
market (Prime Standard) of the Frankfurt Stock Exchange under the symbol
‘AQU’ (ISIN: DE0005156004) and are listed in the SDAX since September 19,
2005.
Contact:
ARQUES Industries AG
Investor Relations & Corporate Communication
Anke Lüdemann, CEFA/CIIA
Tel.: +49 (0) 8151/ 651 0
Email: luedemann@arques.de
(c)DGAP 27.09.2006
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Language: English
Issuer: ARQUES Industries AG
Münchner Str. 15a
82319 Starnberg Deutschland
Phone: +49 (0)8151 651-0
Fax: +49 (0)8151 651- 500
E-mail: info@arques.de
WWW: www.arques.de
ISIN: DE0005156004
WKN: 515600
Indices: SDAX
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin-Bremen, Hamburg, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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