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Provider: Reuters Investment Profile
Provider: Sadif Analytics Prime

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Herlitz AG announces strategic reorientation of the Herlitz Group and to sell Germany and Austria sales business

Wednesday, 18 Dec 2013 01:37pm EST 

Herlitz AG:Announces that Pelikan Holding AG Group will acquire the German and Austrian sales business including administrative functions of Herlitz PBS AG with effect from Mar. 1, 2014.Says the purchase price is based on the net asset value of assets (inventories, fixed assets and liabilities) to be taken over plus a premium of 3.9 million euros.Says the Herlitz Group has been incurring losses in the past years due to the decrease in PBS volumes and is not able to achieve profitability on a standalone basis. 

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29 Jan 2015