Dresdner Factoring AG

euro adhoc: Dresdner Factoring AG
Mergers - Acquisitions - Takeovers / Dresdner Factoring takes over Tewefa

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•          100% acquisition of Tewefa Factoring AG
•          Additional receivables turnover: EUR70 million
•          Purchase price = 4 x 2007 EBIT
•          Consolidation on 1 December 2006

Dresdner Factoring AG, one of the leading factoring providers for small to medium-sized companies with a receivables turnover of up to EUR5 million, is taking over 100% of Tewefa Factoring AG, Frankfurt. The purchase price amounts to four times the EBIT expected for 2007. With this transaction, Dresdner Factoring is taking over a receivables turnover of about EUR70 million, which is generated by experienced members of staff who in some cases have been with the company for 15 years. The previous principal shareholder and management board chairman, Helmut Schlitt, is selling for age reasons and will be retiring; however, he will remain with the company in an advisory capacity for the next two years. The acquisition will be consolidated on 1 December 2006.

@@start.t2@@end of announcement                                                 euro adhoc 23.11.2006 11:48:28

ots Originaltext: Dresdner Factoring AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Dresdner Factoring AG
Klaus Sauer
+49.351.888 55 110

Branche: Financial & Business Services
ISIN:      DE000DFAG997
WKN:        DFAG99
Index:    CDAX
Börsen:  Börse Berlin-Bremen / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / free trade
              Frankfurter Wertpapierbörse / regulated dealing/general

Weitere Meldungen: Dresdner Factoring AG

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