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Kimberly Enterprises N.V.  -  KBE   

Disposal

Released 12:28 19-Jul-2016

RNS Number : 6092E
Kimberly Enterprises N.V.
19 July 2016
 

 

 

Kimberly Enterprises N.V.

("Kimberly" or the "Company")

Disposal

 

Kimberly, the AIM-listed Central and Eastern European property developer (KBE:L), announces that it has agreed to sell its 100% owned subsidiary, Arces International B.V. ("Arces"), to a third party for a nominal consideration.  Arces has no material assets and negative equity of approximately €3.7m.  The disposal will result in an estimated book profit of €3.7m in Kimberly's consolidated financial statements.  The disposal does not provide any cash benefit to the Company, which will continue to have a substantial net asset deficit once the transaction is completed.

 

 

For further information, please contact:

 

Kimberly Enterprises N.V.


Assaf Vardimon

+31 20 778 4141





Cairn Financial Advisers LLP (Nomad)


Sandy Jamieson, James Caithie

+44 207 148 7900



 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Disposal - RNS