TTL Beteiligungs- und Grundbesitz-AG
ots Ad hoc-Service: TTL Info. Technology AG <DE0007501009> TTL increases its holding in BDI to 18.2% Cash capital increase of EUR 400,000
Munich (ots Ad hoc-Service) -
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TTL increases its holding in BDI to 18.2% Cash capital increase of EUR 400,000.
TTL Information Technology AG has exercised an option to increase its stake in BDI Distributors Inc., Atlanta, USA. The share in BDI, one of the leading IT sales and service companies is thus upped 5% to 18.2%. Since taking over the Laguna Corporation, BDI is now one of the top-ranking Internet fulfillment companies in the USA. Sales of USD 225 million and pre-tax earnings of USD 17 million are targeted for 2000. An IPO is planned for the second half of 2000, designed to progress further expansion.
The purchase price for the 18.2% holding amounts to a total of 20 million US dollars.
In this connection, TTL AG has decided to pursue a cash capital increase of 400,000 euro from the capital approved at the AGM on April 27, 2000 excluding the pre-emptive right. The new stocks will be taken over by the Julius Bär investment company within the framework of a portfolio managed by Julius Bär.
The corporations basic capital is thus upped to 4,950,000 euro.
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Original content of: TTL Beteiligungs- und Grundbesitz-AG, transmitted by news aktuell