Ad-hoc | 29 June 2021 15:38
KAP AG EXPECTS HIGHER BOOK PROFIT AS A RESULT OF THE SALE OF IT-NOVUM GMBH
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KAP AG / Key word(s): Disposal
KAP AG EXPECTS HIGHER BOOK PROFIT AS A RESULT OF THE SALE OF IT-NOVUM GMBH Fulda, 29 June 2021 – Mehler AG, a wholly-owned subsidiary of KAP AG, today concluded an agreement with a group company of Allgeier SE on the sale of the subsidiary it-novum GmbH. The purchase price (enterprise value) is around €22 million and results in a multiple of 9.5 on normalised EBITDA. The sale of it-novum GmbH also concludes the separation from the it/services segment. The sale will result in higher book profit for KAP AG. The listed Allgeier SE is one of the large German full-service providers for IT and software services with its own software solutions. Allgeier intends to sustainably develop the business of it-novum GmbH on a long-term basis in the next few years. Contact:
KAP AG
29-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | KAP AG |
| Edelzeller Straße 44 | |
| 36043 Fulda | |
| Germany | |
| Phone: | 06611030 |
| Fax: | 0661103830 |
| E-mail: | office@kap.de |
| Internet: | www.kap.de |
| ISIN: | DE0006208408 |
| WKN: | 620840 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1213155 |
| End of Announcement | DGAP News Service |