euro adhoc: Tomorrow Focus AG
Handelsblatt Publishing Group Takes Over
Majority Holding in BELLEVUE AND MORE GmbH
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
TOMORROW FOCUS adjusts portfolio and sells all shares
Munich, July 04, 2007. The Handelsblatt publishing group took over TOMORROW FOCUS AG´s 41.7% share holding in BELLEVUE AND MORE GmbH on July 01, 2007. The purchase price was agreed at EUR 7.1 million. The contract also included dividend and withdrawal rights for 2007.
The Handelsblatt publishing group has increased its existing holdings dating from 2005 from 25.1% to 66.8%. The Bausparkasse Schwäbisch Hall AG still has a 33.2% holding. The takeover is still awaiting approval by the German monopolies and mergers commission (Kartellamt).
TOMORROW FOCUS AG is adjusting its portfolio to concentrate on Internet and mobile websites as previously announced. The sale of its holding in BELLEVUE AND MORE GmbH means that TOMORROW FOCUS AG has improved its cash position for planned future investments.
Stefan Winners, CEO of TOMORROW FOCUS AG: "By selling our holding to the Handelsblatt publishing group, we are focusing our activities on our core Internet business to maximize future growth."
end of announcement euro adhoc 04.07.2007 14:33:42
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