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BRIEF-Landi Renzo updates on prelim. agreement for sale of business unit to AVL
April 26, 2017 / 9:02 AM / 5 months ago

BRIEF-Landi Renzo updates on prelim. agreement for sale of business unit to AVL

April 26 (Reuters) - Landi Renzo SpA:

* Says consideration in prelim. agreement signed on April 20 for sale of business unit to AVL is EUR 5.7 million ($6.22 million) gross of transferred liabilities estimated at EUR 100,000

* Transaction will have negative impact of around EUR 500,000 on 2017 results for write-off of book value of transferred assets, with positive impact of about EUR 1,000,000 in cash

* From 2018 it will have positive impact for reduction of fixed costs, with EBIT improvement of about EUR 3,000,000 on annual basis and EBITDA improvement of about EUR 1,500,000 per annum Source text for Eikon: Further company coverage: ($1 = 0.9170 euros) (Gdynia Newsroom)

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