Van Lanschot Kempen sells stake in AIO II pharmacy chain
12 Dezember 2018 - 5:42PM
's-Hertogenbosch, the
Netherlands, 12 December 2018
Agreement to sell stake in
non-strategic interest AIO II (Medsen) signed: expected book profit
around €35 million. Transaction expected to be completed at the
beginning of 2019.
As announced at the publication of the 2017 annual
results, Van Lanschot Kempen has spent the past couple of months
investigating the possibilities of selling its stake in the AIO II
(Medsen) pharmacy chain. Today, Van Lanschot Kempen announces that
an agreement has been reached with funds under management of Bencis
about the sale of the stake in AIO II. The transaction is expected
to be completed by early 2019 and to generate a book profit of
around €35 million. The sale is subject to approval by the relevant
(competition) authorities.
AIO II is the holding company of pharmacy chain
Medsen and wholesale chemist Ceban, and is incorporated in Breda.
Van Lanschot Kempen has held an equity stake in AIO II since 2009,
when it acquired a minority interest through a debt-for-equity
swap. The company staged a robust development in the years that
followed. In 2016, Van Lanschot Kempen exercised its option to
expand its stake to a majority interest of 72%.
In 2017 and the first half of 2018, AIO II made
contributions to Van Lanschot Kempen's net profit of €11.8 million
and €6.7 million respectively (based on a 100% stake).
Van Lanschot Kempen's sale of AIO II fits in with
its strategy for its non-strategic investments. The goal is to
divest such interests over time.
FINANCIAL CALENDAR
19 December 2018
Capital payment date
21 February
2019
Publication of 2018 annual results
24 April
2019
Publication of 2019 Q1 trading update
Media Relations: +31 (0)20 354 45 85;
mediarelations@vanlanschotkempen.com
Investor Relations: +31 (0)20 354 45 90;
investorrelations@vanlanschotkempen.com
About Van Lanschot
Kempen
Van Lanschot Kempen, a wealth manager
operating under the Van Lanschot, Evi and Kempen brand names, is
active in Private Banking, Asset Management and Merchant Banking,
with the aim of preserving and creating wealth for its clients. Van
Lanschot Kempen, listed at Euronext Amsterdam, is the Netherlands'
oldest independent financial services company with a history dating
back to 1737.
vanlanschotkempen.com
Disclaimer and cautionary note on forward-looking
statements
This press release contains
information about Van Lanschot Kempen N.V. and Van Lanschot N.V.
within the meaning of Article 7(1) to (4) of EU Regulation No
596/2014.
This document does not constitute an offer or
solicitation for the sale, purchase or acquisition in any other way
or subscription to any financial instrument and is not an opinion
or a recommendation to perform or refrain from performing any
action.
This document may contain forward-looking
statements on future events and developments. These forward-looking
statements are based on the current insights, information and
assumptions of Van Lanschot Kempen's management about known and
unknown risks, developments and uncertainties. Forward-looking
statements do not relate strictly to historical or current facts
and are subject to such risks, developments and uncertainties that
by their very nature fall outside the control of Van Lanschot
Kempen and its management.
Actual results and circumstances may differ
considerably as a result of risks, developments and uncertainties
relating to Van Lanschot Kempen's expectations regarding, but not
limited to, estimates of income growth, costs, the macroeconomic
and business climate, political and market trends, interest rates,
behaviour of clients, competitors, investors and counterparties,
the implementation of Van Lanschot Kempen's Strategy, actions taken
by supervisory and regulatory authorities and private entities,
changes in law and taxation, changes in ownership that could affect
the future availability of capital and changes in
credit-ratings.
Van Lanschot Kempen cautions that forward-looking
statements are only valid on the specific dates on which they are
expressed, and accepts no responsibility or obligation to revise or
update any information following new information or changes in
policy, developments, expectations or other such factors.
The financial data in this announcement have not
been audited.
This document is a translation of the Dutch
original and is provided as a courtesy only. In the event of any
disparities, the Dutch version will prevail. No rights can be
derived from the translated document.
Press release AIO II
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Van Lanschot Kempen via Globenewswire
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