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© bang olufsen (illustration purpose only)
Business |

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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March 28 2024 10:16 am V22.4.20-2
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