Further to the announcement at yesterday’s AGM, Huveaux today announces that it has sold its French Healthcare subsidiary to EPF, the French private equity group, and local management for €8.25m in cash.
In the year ended 31st December 2007, this business contributed an operating profit of €2.0m to the Group.
As stated in the Annual Report & Accounts, the Board of Huveaux has been considering the strategic options for this business. The Board believes that this disposal provides its shareholders with the optimal value from this asset. ‘Le Trombinoscope’ and the related political media assets in France have been retained within the Huveaux Group.
The proceeds from the sale of this business will be used to reduce the bank debt of the Group.
For further information, please contact:
Huveaux PLC
John van Kuffeler, Non-Executive Chairman
Gerry Murray, Chief Executive Officer
020 7245 0270
Brewin Dolphin Limited (NOMAD)
Sandy Fraser
0131 225 2566