Amer Group Plc has today agreed to sell its Teletekno Oy business to the company's current management, backed by Eqvitec Technology Fund I and Fund II, which are both managed by Eqvitec Partners, as well as Profita Fund II, managed by Merita Capital. Amer Group will remain a minority shareholder in the newly established company with a 19% shareholding. The sale of Teletekno does not have a material impact on Amer Group Plc's results.
Teletekno operates in telecommunications technology. Its net sales amounted to EUR 27,7 million in year 2000 and it employed 99 persons at the year end.
"Amer Group's target is to become the leader in global sports equipment market and in recent years we have therefore consistently focused on our core business. Teletekno is in excellent shape, is a well-managed company, and we believe that the new ownership structure will provide better resources to develop the company further", said Chairman of the board of Teletekno, Amer Group's Senior VP & CFO Pekka Paalanne.
AMER GROUP PLC
Communications Dept.
Tea Saari
Communications Manager
Tel. +358 9 7257 8218
Fax +358 9 791 385
E-mail: tea.saari@amer.fi
www.amer.fi
For further information, please contact:
Mr Pekka Paalanne, Senior Vice President & CFO, tel. +358 9 7257 8212
Mr Jari Melgin, Corporate Treasurer, tel. +358 9 7257 8233