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© bang olufsen (illustration purpose only) Business | May 31, 2017

Bang&Olufsen closes divesture of Czech subsidiary

Bang&Olufsen a/s has divested its entire share capital in Bang & Olufsen’s Czech assembly subsidiary, Bang&Olufsen s.r.o. to Tymphany Acoustic Technology HK Ltd.
The transaction has now been completed and all of Bang&Olufsen's 322 Czech employees have been transferred to Tymphany as of May 31, 2017.

Bang&Olufsen expects to receive DKK 123 million (EUR 15 million) in cash payments for the deal. As part of the strategic partnership, Tymphany will produce Bang&Olufsen products in the Czech factory.

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November 14 2017 8:30 PM V8.8.9-1