Oriola-KD Corporation revises recognised loss from the sale of Russian businesses
(Thomson Reuters ONE) -
Oriola-KD Corporation Stock Exchange Release 2 February 2015 at 12:00 a.m.
Oriola-KD Corporation revises recognised loss from the sale of Russian
businesses
Oriola-KD Corporation ("Oriola-KD" or the "Company") has previously stated in
its stock exchange release on 8(th) December 2014 that the Company has entered
into an agreement to sell its Russian businesses to the Russian pharmacy chain
CJSC "Apteki 36.6". The cash and debt free selling price was RUB 3,700 million,
stated to be equivalent to approximately EUR 56 million. The price was paid in
cash. Oriola-KD classified Russian businesses in accordance with IFRS 5 as a
discontinued operation, and stated to recognise estimated loss of EUR 26
million.
The Company revises previously stated estimated loss due to a technical error on
earlier calculation. The revision does not change Oriola-KD's prior estimate on
the effect of the sale on the Oriola-KD Group's equity. The impairment loss
resulting from the revaluing the assets at fair value, accumulated translation
differences recognized through income statement, foreign exchange loss from
conversion of the selling price and cost of disposal included within loss from
discontinued operations totaled approximately EUR 147.7 million. Foreign
exchange loss from conversion of the selling price was approximately EUR 4.8
million.
Oriola-KD will publish its financial statements release for 2014 on February
6, 2015 at about 8:30 a.m.
Oriola-KD Corporation
Tuomas Itkonen
CFO
For further information, please contact:
Tuomas Itkonen
CFO
Tel. +358 40 596 4004
email: tuomas.itkonen(at)oriola-kd.com
Eero Hautaniemi
President & CEO
Tel. +358 10 429 2109
email: eero.hautaniemi(at)oriola-kd.com
Distribution
NASDAQ OMX Helsinki Ltd.
Key media
Released by:
Oriola-KD Corporation
Corporate Communications
Orionintie 5
FI-02200 Espoo, Finland
www.oriola-kd.com
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Oriola-KD Oyj via GlobeNewswire
[HUG#1890937]
Unternehmensinformation / Kurzprofil:
Datum: 02.02.2015 - 11:00 Uhr
Sprache: Deutsch
News-ID 368343
Anzahl Zeichen: 2773
contact information:
Town:
Espoo
Kategorie:
Business News
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"Oriola-KD Corporation revises recognised loss from the sale of Russian businesses"
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