ATB Austria Antriebstechnik AG
EANS-Adhoc: ATB Austria Antriebstechnik AG
ATB Austria Antriebstechnik
disposes of French ATB Selni subsidiary
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Spin-offs
10.02.2010
Vienna, February 10, 2010 - ATB Austria Antriebstechnik AG (ISIN AT0000617832) has sold its wholly-owned subsidiary ATB Selni, a manufacturer of electric motors and pumps for white goods located in Nevers, France. The shares were transferred today.
The disposal was by way of a management buy-out under a contract signed on 19 January 2010. The transfer of the shareholder ledgers and the shares to the purchaser, SELNI Investissement SAS, in accordance with French law took place with effect from today. The parties agreed to keep the purchase price confidential.
The ATB Group´s withdrawal from the white goods market is in line with its long-term strategy, and will help it tighten its focus on its core markets.
ATB Selni had entered the procedure de redressement judiciaire (administration) under French law, and was accounted for as a discontinued operation.
end of announcement euro adhoc
Further inquiry note:
Gerald Wechselauer
Investor Relations
Phone: +43 1 22760 - 130
Email: ir@a-tecindustries.com
Branche: Technology
ISIN: AT0000617832
WKN:
Index: Standard Market Auction
Börsen: Wien / official market