 |
|
 |
|
    |
|
|
8 April, 2004 BRIO divests BRIO Educational BRIO has today completed the divestment of its subsidiary BRIO Lek & Lär AB comprising the activities within the business area BRIO Educational. The buyer is a company controlled by Procuritas Capital Investors III. The divestment is part of BRIO's focusing on the core toys business area. The transaction is completed as of 31 March and results in a capital gain of approximately SEK 220m after costs related to the transaction and improves BRIO's financial position substantially. Net borrowings are reduced by approximately SEK 255m and, if completed at the beginning of 2004, the solvency ratio would have increased from 15% to pro forma approximately 43%. The full financial implications of the divestment for the BRIO group will be outlined in the first quarter report to be published on 6 May 2004. BRIO Educational is specialised in the distribution of toys, furniture stationary and craft products to pre-schools and schools in the Nordic countries. In 2003 the business had sales of SEK 334m and an operating profit of SEK 47m. The business employed a staff of 89 at the beginning of the year. Danske Markets Corporate Finance has acted as financial advisor to BRIO AB in the transaction. Osby 8 April 2004 BRIO AB (publ) << NEWS |
BRIO and its logo are trademarksof BRIO Group and are used with permission. © 2007 BRIO Group All rights reserved. | Privacy Policy | Disclaimer
| Also visit our sister sites: |  | K'NEX web site |  |
LINCOLN LOGS web site |