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8 months ago
BRIEF-Vossloh sells Electrical Systems business unit to Knorr-Bremse
December 21, 2016 / 4:05 PM / 8 months ago

BRIEF-Vossloh sells Electrical Systems business unit to Knorr-Bremse

Dec 21 (Reuters) - Vossloh AG :

* Vossloh signs contract for the sale of the Electrical Systems business unit to Knorr-Bremse

* Vossloh receives a cash selling price of 72.5 million euros ($75.60 million). This includes a variable component of 25 million euros which is subject to future adjustment insofar as a project does not develop according to Vossloh's current expectations

* Vossloh expects a net cash inflow in middle double-digit million range when transaction is completed

* Completion of transaction is expected for Q1 2017 Source text for Eikon: Further company coverage: ($1 = 0.9590 euros) (Gdynia Newsroom)

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