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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

29-Jun-2021 / 15:38 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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
Kai Knitter
Head of Investor Relations & Corporate Communications
k.knitter@kap.de
+49 661 103 327


 

29-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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

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