aap Implantate AG (“aap”) today completed the sale of 100% of the company shares in its subsidiary aapBiomaterials GmbH. The buyer is Keensight Capital, a leading player in European Growth Private Equity.
By completing this transaction, aap receives proceeds of about EUR 36.6 million. After deduction of the estimated transaction costs the net inflow amounts to around EUR 35 million. According to preliminary calculations, the completion of the transaction will result in a positive one-time overall effect on the earnings level of EUR 19 million – EUR 20 million.
The company will use part of the proceeds to finance further growth and to distribute part of them to its shareholders. In this context aap evaluates different options without having taken a measure into closer consideration or decided on it. For example the set up of a share buyback program in the current financial year and/or a dividend payment in financial year 2017 based on the annual financial statements 2016 seem to be conceivable.
By closing the transaction, aap becomes a pure player in trauma with an innovative product and technology portfolio. The three IP-protected platform technologies LOQTEQ®, silver coating and magnesium offer enormous growth potential in the mid term. Unlocking the inherent value of these innovative product and technology basis is an essential goal of aap‘s further strategic development.
With the “new” aap as a pure player in trauma, the Management Board is confident to realize a compelling growth story and to sustainably increase shareholder value.
This release contains forward-looking statements based on current experience, estimates and projections of the management board and currently available information. They are not guarantees of future performance. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Many factors could cause the actual results, performance or achievements of aap to be materially different from those that may be expressed or implied by such statements. These factors include those discussed in aap‘s public reports. Forward-looking statements therefore speak only as of the date they are made. aap does not assume any obligation to update the forward-looking statements contained in this release or to conform them to future events or developments
For further information, please contact:
aap Implantate AG
Manager Investor Relations
Tel.: +49 (0)30 / 750 19 134
Fax: +49 (0)30 / 750 19 290