BE Group reports that it is selling its operation in China
Tuesday, 28 May 2013
BE Group, the listed trading and Service Company in steel and other
metals said it has signed an agreement with Ovako on the transfer of
its Chinese subsidiary, BE Group (Shanghai) Steel Trading.
In a press release, the company said that the transfer is expected to
be completed before the end of June. The purchase price will be
determined by a closing balance sheet and is estimated at approximately
It is expected that most of the purchase price will be paid at closing.
The estimated purchase price will result in a small capital gain and
will only have a marginal impact on BE Group's financial statements.
The President and CEO of BE Group, Kimmo Vškiparta, comments: “We have
taken a strategic decision not to continue to be active in China and we
are therefore pleased to have reached an agreement with Ovako on our
By Scancomark.com Team
want to contribute to our news network? Do have a news
tip or assist us with a correction? Please ...