DGAP-News: MEDISANA successfully concludes unwinding of interest in Gimelli Laboratories Co. Ltd., Hong Kong
(firmenpresse) - DGAP-News: Medisana AG / Key word(s): Miscellaneous
MEDISANA successfully concludes unwinding of interest in Gimelli
Laboratories Co. Ltd., Hong Kong
01.12.2011 / 12:44
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MEDISANA successfully concludes unwinding of interest in Gimelli
Laboratories Co. Ltd., Hong Kong
Neuss, December 1, 2011 - MEDISANA AG has successfully concluded the
unwinding of its 51% interest in Gimelli Laboratories Co. Ltd., Hong Kong,
(Gimelli). This unwinding transaction formed the subject of an ad hoc
announcement that MEDISANA AG had previously published on September 21,
2011, and entails the return to MEDISANA AG of the purchase price of USD
2.8 million and 630,000 MEDISANA shares that it originally rendered for its
shares in Gimelli, thereby being realised on same terms as were effective
when the interest was acquired in 2009.
The interest was unwound because Gimelli had failed to satisfy the revenue
and earnings expectations connected with the purchase, and because currency
exchange-rate fluctuations and rising personnel costs had exerted an
increasing impact on the company's earnings and financing positions. The
separation that is now being implemented is feeding through to significant
relief on the cost side, and will have a positive effect on MEDISANA AG's
earnings, while Gimelli's production capacities will remain available to
MEDISANA AG.
MEDISANA AG
Jagenbergstrasse 19, 41468 Neuss
Tel.: +49 (0) 2131 / 36 68 0
Fax: +49 (0) 2131 / 36 68 50 95
info(at)medisana.de
www.medisana.de
UBJ. GmbH
Kapstadtring 10, 22297 Hamburg
Tel.: +49 (0) 40 6378 5410
Fax: +49 (0) 40 6378 5423
ir(at)ubj.de
www.ubj.de
End of Corporate News
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01.12.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Medisana AG
Jagenbergstr. 19
41468 Neuss
Germany
Phone: +49 (0)2131-3668 5410
Fax: +49 (0)2131- 3668 5095
E-mail: info(at)medisana.de
Internet: www.medisana.de
ISIN: DE0005492540
WKN: 549254
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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148332 01.12.2011
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