DGAP-News: ARQUES Industries AG: ARQUES sells Anvis subsidiary to management
(businesspress24) - DGAP-News: ARQUES Industries AG / Key word(s): Disposal
ARQUES Industries AG: ARQUES sells Anvis subsidiary to management
03.12.2010 / 16:57
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Munich, December 3, 2010 - With today's notarial contract ARQUES Industries
AG sold their share in the Anvis Group to Hahn GmbH, a company owned by the
former managing director, Olaf Hahn. The transaction was financed by H.I.G.
Europe, the European arm of the investment company, H.I.G. Capital, which
focuses on medium-size enterprises. The parties agreed not to disclose the
purchase price which was already paid today.
The Anvis Group is a primary developer and manufacturer of innovative
functional solutions for driving dynamics, comfort and road safety and is
represented in Europe, America, Asia and South Africa with 13 branches
supporting the local automobile industry. After EUR 210 million turnover
last year with losses, the company expects turnover of EUR 250 million in
the current year with positive earnings.
ARQUES acquired the subsidiary in September 2007. The implemented
restructuring measures have, however, not been concluded to date.
In the course of the sale, ARQUES accrued liquid resources in the low
double-digit million Euro range. At the same time the financial liabilities
within the group decrease by approx. EUR 30 million.
After the sales of the subsidiaries, 'Fritz Berger' and 'Golf House', the
sale of the Anvis Group is the third exit this year. ARQUES anticipates
further exits within this year. In some cases negotiations with potential
investors have progressed substantially. ARQUES expects that after
conclusion of the current transaction processes, the company will be free
from financial liabilities to a large extent and have substantial cash
reserves.
About ARQUES
ARQUES Industries AG is an equity investment company focusing on the
restructuring of companies in transitional situations. ARQUES develops
these companies, mainly acquired within the context of company spin-offs,
to competitive enterprises with a positive yield in order to sell these
afterwards with added value. The shares of ARQUES Industries AG are traded
in the Prime Standard of the Frankfurt Stock Exchange. Symbol: AQU, ISIN:
DE0005156004. www.arques.de.
Contact:
ARQUES Industries AG
Investor Relations
Email: info(at)arques.de
Tel: 089/ 25 55 00 - 0
End of Corporate News
03.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: ARQUES Industries AG
Arnulf Office Park - Arnulfstraße 37-39
80636 München
Deutschland
Phone: +49 89/255500-0
Fax: +49 89/255500-200
E-mail: klaus.franke(at)arques.de
Internet: www.arques.deISIN: DE0005156004
WKN: 515600
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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105521 03.12.2010
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Datum: 03.12.2010 - 10:57 Uhr
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