IBS completes the sale of IBS Public Services – capital gain of EUR 63m.
IBS has now completed the sale of its UK subsidiaries, IBS Public Services Ltd by means of an IPO on the London Stock Exchange for EUR 75m (GBP 52m) with a capital gain of EUR 63m. IBS does not expect any corporation taxes or other taxes relating to capital gain.
The sale of IBS Public Services Ltd was conditional upon admission to listing and trading on the London Stock Exchange under the name of IBS Opensystems plc on 23 March, which has now taken place. IBS has, in addition to the cash consideration, received warrants to subscribe for 3 percent of the issued ordinary share capital of IBS Opensystems plc. The sale is a significant step in the strategic development of IBS to focus operations on core business areas. With a substantially strengthened balance sheet, as a result of the sale, IBS can accelerate its strategic measures to focus on supply chain management for selected vertical markets. For further information, please contact: Magnus Wastenson, CEO of IBS AB Telephone: +46 (0)8 627 2515 Mobile: +46 (0)70 627 2515 magnus.wastenson@ibs.net John Womack, Director Corporate Communications, IBS AB Telephone: +46 8 627 2499 Mobile: +46 (0)70 678 2499 john.womack@ibs.net Per-Arne Sendrén, CFO of IBS AB Telephone. +46 (0)8 627 2360 Mobile: +46 (0)70 627 2360 per-arne.sendren@ibs.net