Il Sole 24 Ore finalizes disposal of 24 ORE Software S.p.A.
to Teamsystem S.p.A.
Pursuant to CONSOB Resolution 11971/99 as subsequently amended and integrated
Milan, May 28, 2014 – Today Il Sole 24 ORE S.p.A. finalized the disposal of its interest in 24 ORE Software S.p.A. to Teamsystem S.p.A.
The scope under the above mentioned disposal includes all of the software assets of the 24 ORE Group.
The disposal agreement, as announced on April 15, 2014, provides for the sale of the 100% interest in 24 ORE Software S.p.A. for a value of Euro 104.5 million, after deducting its net financial position at the closing date.
Euro 82 million has been collected today, while the collection of Euro 22.5 million will be deferred in accordance with the terms of the contract. Today Il Sole 24 ORE S.p.A. also collects the price for the disposal of a receivable to Teamsystem S.p.A., equal to Euro 14.6 million.
The total financial benefit from the transaction to date amounts to Euro 96.6 million.
The price may be subject to adjustment, due to assessment of the net financial position after closing.
The capital gain announced on April 15, 2014, calculated considering the consolidated carrying amounts at December 31, 2013, is substantially confirmed and will be updated following calculation of the final amounts.
For further details on the transaction, reference should be made to the press release issued on April 15, 2014.
Press Office Manager Il Sole 24 ORE:
Ginevra Cozzi - Tel. 02/3022.4945 – Mob. 335/1350144
Ines Di Terlizzi Tel. 02/3022.3728