Gerry Weber International AG: Sale of property 'HALLE 29'
Gerry Weber International AG: Sale of property "HALLE 29"
Halle/Westphalia, 10 October 2018 - Today, GERRY WEBER International AG signed an agreement regarding the sale of the Showroom Center "HALLE29" in Düsseldorf to a subsidiary of Zech Group, Bremen. The selling price for the property amounts to about EUR 36 million. The completion of the transaction and the payment of the price are subject to several standard customary closing conditions. The sale of the property, which does not form part of the company's operating assets, takes place in the context of the Performance Program for a repositioning of the company towards sustainable profitable growth and underlines the focusing of GERRY WEBER International AG on its core business.
The divestiture of the non-core property will result in extraordinary income of presumably approx. EUR 18 million in the financial year 2018/19, which will improve Earnings Before Interest and Taxes/Operating Result (EBIT) of GERRY WEBER International AG by a corresponding amount.
The Managing Board
Notifying Person: Jörg Stüber Director Finance Phone: +49 5201 185-8914 Joerg.Stueber@gerryweber.com
10-Oct-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Gerry Weber International AG Neulehenstraße 8 33790 Halle/Westfalen
Germany Phone: +49 (0)5201 185-0 Fax: +49 (0)5201 5857 E-mail: email@example.com Internet: www.gerryweber-ag.de ISIN: DE0003304101 WKN: 330410 Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; SIX, Vienna Stock Exchange End of Announcement DGAP News Service
732267 10-Oct-2018 CET/CEST