ALAPIS SA, following todays announcement regarding the sale of its non-Human Health activities, namely: i) Cosmetics & Liquid Detergents, ii) Animal Health and iii) Medical Devices, clarifies that yesterday the sale of the following companies was completed for a total consideration of €144.7 million:
- 100% of the shares of Gerolymatos Prestige SPA S.A., Gerolymatos Cosmetics S.A. and Beautyworks S.A. to the company Ballis Home Care S.A. controlled by Mr. Konstantinos Ballis
- The companies Provet SA (100%) and Ktiniatriki-Promitheutiki S.A. (99.66%) to the company Rovinvest S.A. controlled by Mr. Sofokli Rovi
- 100% of the shares of Gerolymatos Animal Health to the company Devtec Investments S.A. controlled by Mr. Pantelis Devetzis
- 100% of the shares of Alapis Medical S.A. to the company Novo Atreus S.A. controlled by Mr. John Bailan ,
- 100% of the shares of Medimec S.A. to the company First Aid Care S.A. controlled by Mr. Antonios Rogopoulos.
At the date of sale:
a) The total acquisition cost of the aforementioned sold companies amounted € 143.65 million and ALAPIS S.A. profit amounted to €1.05 million.
b) The Groups personnel reduces from 2,865 to 1,732 employees.
The aforementioned sale of companies is not expected to have a substantial impact on Alapis Group net equity position and activity since as at Q1 2010, they accounted for 21.78% of the consolidated turnover, 14.15% of the consolidated EBITDA and 9.4% of the consolidated EBIT.
Finally, the continued operations (human health ? powder detergent) for the Group in Q1 2010 accounted for 78.22% of the consolidated turnover, 85.85% of the consolidated EBITDA and 90.6% of the consolidated EBIT.