All Stories
Follow
Subscribe to All for One Group SE

All for One Group SE

ots Ad hoc-Service: AC-Service AG <DE0005110001> Preliminary Contract on Sale of Distribution Solutions Business Division

Stuttgart (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
FAMAC division to pass to the bäurer group retroactively as of 1
October 2000. Personnel change on Board of Directors.
Stuttgart, 10 October 2000 - AC-Service has made another major
step in aligning the entire corporation on IT Outsourcing, Human
Resource Services and Application Service Providing by signing a
preliminary contract for the sale of its Distribution Solutions
business division to the bäurer Aktiengesellschaft in Hüfingen, a
company that's also listed on the Neuer Markt of the Frankfurt Stock
Exchange. Both companies' supervisory boards have approved the
transaction. Based on this, the main contracts between the involved
companies are also to be signed in the month of October 2000. These
foresee 1 October 2000 as the accounting cut-off date, so that the
transaction will then take effect on the books in the 4th quarter
2000.
This master agreement entails the transfer of the Distribution
Solutions business division from AC-Service to bäurer. The division
being sold includes the employment contracts with some 120 employees
at sites in Vienna, Wels, Düsseldorf, Munich and Brussels; the
licensing and brand-name rights to the AUDIAL, DIBAC, KORAC and FAMAC
software solutions; as well as licensing and maintenance contracts
with about 350 clients, mostly from the wholesaling field. This
business division posted sales of DEM 12,3 million in the first six
months of this financial year. Both parties have agreed not to
discuss the sale price until further notice. Sal Oppenheim advised
AC-Service on the transaction.
AC-Service's new alignment has also led to a change in the Board
of Directors. The Supervisory Board dismissed Jürgen Thum from the
Board of Directors effective 30 September 2000, and he left the
company. While on the board, Thum held overall responsibility for the
Distribution Solutions division until 31 December 1999, where he was
also responsible for operational management of the division within
Germany. Since 1 January 2000, the overall group-wide responsibility
for the Distribution Solutions division has been in the hands of the
former deputy division director Karl Rippel.
For further information, see www.ac-service.com
End
Internet: http://recherche.newsaktuell.de

Original content of: All for One Group SE, transmitted by news aktuell

More stories: All for One Group SE
More stories: All for One Group SE