Pfleiderer AG Sells Business Unit Track Systems to AXA
10 March 2006
MDAX-listed Pfleiderer AG, Neumarkt (ISIN DE0006764749) signed a contract on March 6, 2006 for the sale of its business centre Pfleiderer track systems. An interim right to rescind the contract expired today. The companies taking over the business centre belong to AXA Private Equity. The transaction amongst others is subject to approval by the German anti-trust authority. Pfleiderer expects the transaction to yield a capital gain of approximately €45 million after taxes.
A previous exclusivity agreement entered into with Vossloh AG, Werdohl, was rescinded at the end of 2005 following a delay in the approval procedure due to misgivings by the German anti-trust authority.
The sale of Pfleiderer track systems marks the end of the strategic realignment embarked on by Pfleiderer AG, which is now concentrating entirely on expanding its business centre engineered wood internationally.
