euro adhoc: CEAG AG
Mergers - Acquisitions - Takeovers
CEAG sells FRIWO
Mobile Power (FMP) business unit to Flextronics
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
07.02.2008
CEAG sells FRIWO Mobile Power (FMP) business unit to Flextronics
Ostbevern, Germany, February 7th, 2008 - CEAG AG (FSE: CEA), a leading international manufacturer of power supplies and chargers, is selling the FRIWO Mobile Power (FMP) business unit to a subsidiary of Singapore based Flextronics International Ltd. (NASDAQ: FLEX). An agreement to this effect was signed today.
The purchase price amounts to EUR 57.5 million on a cash-free/debt-free basis and is subject to customary working capital adjustments which could reduce the net proceeds CEAG will receive. The transaction is subject to the approval of the competent antitrust authorities and other customary closing conditions and is expected to close during the first half of 2008.
Following the sale of its FMP business unit, CEAG will focus on its remaining FRIWO Power Solutions business unit.
end of announcement euro adhoc
Further inquiry note:
Gudrun Richter
Investor Relations
Telefon: +49 (0) 2532-81-158
E-Mail: richter@friwo.de
Branche: Semiconductors & active components
ISIN: DE0006201106
WKN: 620110
Index: CDAX
Börsen: Börse Hamburg / free trade
Börse München / free trade
Börse Berlin / regulated dealing
Börse Stuttgart / regulated dealing
Börse Düsseldorf / regulated dealing
Börse Frankfurt / regulated dealing/general standard