In continuation of Company Announcement no. 20 of 31 October 2018, it is hereby confirmed that approval from the relevant regulatory authorities has been obtained, and that all other requirements for GPV’s acquisition of the Swiss-based EMS company CCS Group now have been fulfilled.
According to anticipation, the transaction is finally effected as of today with the effect that from the year end, CCS will become recognised in the Schouw & Co. consolidated financial statements. In 2018, the acquisition only affects the Schouw & Co. Group's profit with transaction costs incurred in the order of DKK 10 million.
In connection with the acquisition, a purchase price allocation will be prepared, where the difference between purchase price and booked equity will be allocated to assets and liabilities resulting in regulations and higher depreciations. Along with the estimated integration costs, the effect will be incorporated into GPV's profit forecast for 2019.
The Schouw & Co. Group's expectations for revenue and profit for 2019 are disclosed in the Group's Annual Report for 2018, published on Friday 8 March 2019.
Aktieselskabet Schouw & Co.
Jørn Ankær Thomsen, Chairman
Jens Bjerg Sørensen, CEO, tel. +45 86 11 22 22
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