Electronics Production |
Balda sells MobileCom in China
Balda AG has carried out its repeatedly advertised intention to dispose of its MobileCom segment and has sold it by way of a management buy out (MBO).
The segment had already been reported in the 2011 half-year report under "discontinued operations". The parties have - on October 31, 2011 - with the approval of the Balda Supervisory Board closed the contracts of sale.
With this Balda has disposed of its activities in the mobile phone business in China. The buyer is Ample Gain Enterprises Limited (AGE). The Bad Oeynhausen Group is disposing of its companies in Beijing (BSBJ and BTO Technologies) and Suzhou (BSSU) including the rights to properties, buildings and machine park. It is expected that the closing will take place in November 2011.
The parties have agreed not to disclose the details of the transaction such as the conditions and the purchase price.
