Deltaco AB: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Solar A/S Completes Sale of Shares in Aurora Group Danmark A/S to Deltaco AB
Solar A/S announced that on April 2, 2013 it announced that it had made an agreement with Deltaco AB on the disposal of 100% of the shares of Aurora Group Danmark A/S. This transaction has been completed. Deltaco’s price of acquisition of 100% of shares of Aurora Group Danmark totals up to EUR 17.2 million on a debt-free basis as at December 31, 2012. The purchase consideration is made up of a fixed amount at EUR 15.2 million and a variable amount (earn out), which will total EUR 2 million at the most. This earn-out amount depends on results in 2013 and 2014. Solar A/S participates in financing with a two-year vendor note of EUR 4.3 million. The expected total selling price amounts to approximately EUR 17 million which will result in accounting gain of approximately EUR 1.4 million. Total expected transactions costs amount to approximately EUR 1.1 million. As a result of the disposal of Aurora Group Danmark A/S, the Solar Group results no longer include this enterprise’s results. Consequently, Solar will change fiscal year 2013 expectations from revenue of between EUR 1,690 million and EUR 1,730 million to revenue of between EUR 1,640 million and EUR 1,680 million while EBITA expectations are changed from between EUR 34 million and EUR 41 million to between EUR 32 million and EUR 39 million. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2013 revenue of EUR 1,689.66 million and fiscal year 2013 EBITDA of EUR 49.62 million.
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