Nedap N.V. and the other shareholders of Nedap France S.A.S. announced that after the exclusive negotiations as communicated in the press release dated 1 July 2019, have reached a final agreement on the sale of all of the shares of Nedap France to B&Capital, a French investment fund.
Nedap France S.A.S shares sold off
Nedap’s net proceeds from the sale amount to around €14.5 million, which generates a book profit of approximately €10 million. These amounts are net of costs related to the transaction. The transaction is expected to be closed shortly.
The 49.8% stake in Nedap France was recognized in the 2018 financial statements under the ‘Associate’ item and the result attributable to Nedap under ‘Share in profit of associate’. In the statement of profit or loss for the 2019 financial year the ‘Share in profit of associate’ will also include the book profit on the sale of the associate.
‘Share in profit of associate’
The net proceeds generated by the transaction will, as previously communicated, primarily be used for a one off increase in dividend for 2019. As usual, the dividend amount will be announced at the publication of the annual figures (2019). The required investment capacity and capital structure will be taken into account, in keeping with the financial objectives.
High-tech company Nedap N.V. creates high-quality, innovative hardware and software products that enable people to be more productive and successful in their professional lives. Nedap France S.A.S provides security solutions, including anti-theft systems in stores and supermarkets, graphical monitoring interactive products, video surveillance, intrusion items, biometrics, redundant servers, magnetic sensing technology, and IT infrastructure. Nedap France serves customers in France.
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