Bure divests its holding of 100 per cent of the shares in Citat to Edita with closing and financial effect on 1 July 2008. In connection with the transaction Bure acquires Citat's wholly-owned subsidiary Scandinavian Retail Center AB to book value. The transaction generates preliminary approximately SEK 366M, including funds distributed during the year. The total amount thus includes the purchase prices for the previous divested subsidiaries DataUnit and Appelberg. The preliminary capital gain amounts to SEK 126M.
"Together with Edita, Citat now forms the leading communication producer in the Nordic countries. Edita takes over a very well managed company", says Carl Backman, Vice Executive President of Bure.
Bure has been a part-owner of Citat since 1996. During 2005 Bure appointed a new management for Citat and adopted a three year development plan, which now has been executed, the business has developed and the profitability has improved significantly. Citat now faces new challenges and Bure is of the opinion that the time for change in ownership is suitable.
Göteborg, 25 June, 2008
Bure Equity AB (publ)
//bure.se/wp-content/uploads/sites/23/2015/05/Bure_240.jpg 0 0 Martin Ekström //bure.se/wp-content/uploads/sites/23/2015/05/Bure_240.jpg Martin Ekström2008-06-25 06:30:002008-06-25 06:30:00Bure divests its holding in Citat Group AB
Bure has signed an agreement regarding divestment of its total holding in Citat to the Finnish communication group Edita.