CFC Industriebeteiligungen GmbH & Co. KGaA / Strategic Company Decision
15.04.2009
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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CFC Industriebeteiligungen receives further sale proceeds from transaction
with Greenpark
- Secondary investor Greenpark exercises call option to take over 34.3
percent of pan manufacturer Berndes
- Realization of added value strategy for operations remains with CFC
Dortmund, April 15, 2009
CFC Industriebeteiligungen GmbH & Co. KGaA (ISIN: DE000A0LBKW6), Dortmund,
announces further cash inflow for the past first quarter 2009 from last
year's transaction with Greenpark Funds, Guernsey, specialising in
secondary investments, i.e. investments in existing portfolios, and advised
by Greenpark Capital Ltd., London. In August 2008, 49 percent of CFC's
then-investment portfolio were sold to these funds for altogether Euro
22.54 million. A partial amount close to Euro 13.5 million was paid at
signing of this contract. Now another Euro 5.51 million have accrued to
CFC. This cash inflow is due to the fact that Greenpark has exercised a
call option and now holds 49 percent of CFC's 70 percent interest in
cookware manufacturer Berndes (i.e. 34.3 percent of the company's stock
capital).
As has already been announced in the context of said transaction in
mid-2008, CFC Industriebeteiligungen will continue to be responsible for
the added value strategy for operations at Berndes, safeguarding thecompany's consistent further development.
Marcus Linnepe, CEO of CFC Industriebeteiligungen: 'We are pleased with the
news that Greenpark has exercised its call option. We regard this action as
evidence once more that Greenpark appreciates our investment approach and
the business development of our subsidiaries based on this approach.
Berndes was the very first CFC investment and has belonged with our group
since August 2006. The company has developed successfully since the
takeover and is profitable today. Reasons for this performance are the
successful realization of several restructuring measures, particularly
strengthening the market position in Asia, Russia and Eastern Europe, the
establishment of innovative distribution channels, the implementation of a
new communication concept, and the introduction of new manufacturing
technologies.'
- - About CFC Industriebeteiligungen
CFC Industriebeteiligungen GmbH & Co. KGaA holds majority interests in
medium-sized companies exposed to extraordinary situations and in groups'
niche operations (carve-outs) that are no longer in the owner's strategic
interest. As an industry group for special situation companies, CFC
accompanies its portfolio companies actively in their development of
strategies and operations and thus creates sustainable added value for all
parties involved. The CFC team has profound expertise and looks back on
many years of experience in executive positions at domestic and
international companies. CFC stands for 'companion for companies'; CFC sees
itself as a companion of its portfolio companies on their paths into the
future.
- - About Berndes
The Berndes Group is one of the leading manufacturers of cookware such as
frying pans and pots. Based on a strong trade name, good quality and high
innovative ability, the company's products are positioned in the medium and
upscale price segments. According to company information, the Berndes Group
is Germany's market leader in the product segment of cast-aluminum
cookware. With its approx. 176 employees and 2008 sales of approx. Euro 48
million, the Berndes Group is also one of Germany's largest manufacturers
of sealed pans.
Contact:
CFC Industriebeteiligungen GmbH & Co. KGaA
Dr. Frank Nellißen
Chief Financial Officer
Tel: +49 231 222 40 501
eMail: fn@cfc.eu.com
DGAP 15.04.2009
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Language: English
Issuer: CFC Industriebeteiligungen GmbH & Co. KGaA
Westfalendamm 9
44141 Dortmund
Deutschland
Phone: +49 (0)231-22240 500
Fax: +49 (0)231-22240 501
E-mail: info@cfc-eu.com
Internet: www.cfc-eu.com
ISIN: DE000A0LBKW6
WKN: A0LBKW
Listed: Regulierter Markt in Frankfurt; Freiverkehr in Berlin,
Düsseldorf, Stuttgart
End of News DGAP News-Service
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DGAP-News: CFC Industriebeteiligungen receives further sale proceeds from transaction with Greenpark
| Source: EQS Group AG