DGAP-News: Beate Uhse AG: Beate Uhse AG obtains agreements for EUR 40.8 million in working capital facilities
(firmenpresse) - Beate Uhse AG / Banking Syndicate
26.05.2010 10:12
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Beate Uhse AG Obtains Agreements for EUR40.8 million in Working Capital
Facilities
Flensburg, May 26, 2010
- New facilities replace and simplify existing bank credit lines from
multiple institutions
- Improvement of facilities despite difficult credit markets validates
Beate Uhse's current and future prospects
- Capital to enable Beate Uhse to execute on growth strategy and
participate in market consolidation
Beate Uhse AG (XETRA: USE.DE) today announced agreements for Euro 40.8
million in credit lines from a group of European commercial banks. This
facility will replace and simplify existing agreements and includes, for
the first time, a significant participation by a non-German European
lender.
'The successful renegotiation of these credit facilities and loans ensures
that we remain competitively positioned to benefit from opportunities
within our market,' said Beate Uhse's COO Serge van der Hooft.
'Beate Uhse's retail and e-commerce brands are market leaders across
Europe. We fulfill over 10,000 orders per day and distribute over 25
million catalogues annually. Combined with our wholesale operations and
digital media assets and services, we are clearly at the forefront of the
growing and lucrative market for adult lifestyle products.' he said.
'Despite the difficult credit markets, the strength of our business and
future prospects has been validated by these large commercial lenders.
Furthermore, we are delighted to welcome ING as both a new, and our
largest, financing partner. The pan-European composition of our financing
reflects the international nature of our assets and branded businesses.'
About Beate Uhse:
Beate Uhse was established by the entrepreneur of the same name in 1946.
Today Beate Uhse is Europe's largest retailer, wholesaler, producer and
manufacturer of adult lifestyle goods. Beate Uhse is active in over 30
countries through its family of retail store and mail order brands
including Beate Uhse, Pabo, Adam et Eve and Christine le Duc as well as
though its wholesale group, Scala Playhouse. In addition Beate Uhse
produces adult lifestyle products and digital media under a growing
portfolio of proprietary lines including Mae B.(TM), ToyJoy(TM),
Taboom(TM), Geisha(TM), and Daring!(TM). Beate Uhse is listed on the
official market of the Frankfurt Stock Exchange. Beate Uhse is
headquartered in Flensburg, Germany and has significant fulfillment and
marketing operations located in the Netherlands.
This press release can be viewed at www.beate-uhse.ag
IR contact: Birte Hennig
Tel: + 49 461 99 66 307
ir(at)beate-uhse.de
This release contains forward-looking statements. Forward-looking
statements are statements that are not historical facts; they include
statements about our beliefs and expectations and the assumptions
underlying them. These statements are based on plans, estimates and
projections as they are currently available to the management of Beate
Uhse. Forward-looking statements therefore speak only as of the date they
are made, and we undertake no obligation to update publicly any of them inlight of new information or future events except as may be required by
applicable laws.
Contakt:
Beate Uhse AG
Assia Tschernookoff
Head of Communication
Gutenbergstraße 12
24941 Flensburg
www.beate-uhse.ag
Fon: 0049 461 / 99 66 125
Fax: 0049 461 / 99 66 377
26.05.2010 10:12 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Beate Uhse AG
Gutenbergstraße 12
24941 Flensburg
Deutschland
Phone: +49 (461) 99 66 307
Fax: +49 (461) 99 66 440
E-mail: atschernookoff(at)beate-uhse.de
Internet: www.beateuhse.ag
ISIN: DE0007551400
WKN: 755140
Indices: CDAX, PRIMEALL, CLASSICALLSHARE
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hannover, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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Datum: 26.05.2010 - 10:12 Uhr
Sprache: Deutsch
News-ID 21449
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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