Stockmann Oyj Abp
Stockmann has completed the Seppälä transaction
Stockmann Oyj Abp 31.03.2015 11:30 Dissemination of a Adhoc News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Helsinki, Finland, 2015-03-31 11:30 CEST (GLOBE NEWSWIRE) -- STOCKMANN plc, Company Announcement 31.3.2015 at 12:30 EET Stockmann has signed an agreement regarding the selling of its subsidiary, Seppälä Oy, to Seppälä's CEO Eveliina Melentjeff and her husband Timo Melentjeff on 1 April 2015. The transaction will be completed according to the memorandum of understanding announced in a stock exchange release on 2 February 2015. The transaction covers 82 Seppälä stores in Finland and 20 in Estonia. The selling of Seppälä will improve the Stockmann Group's profitability. Seppälä's revenue in 2014 was EUR 92.6 million and operating result excluding non-recurring items was -27.2 million. The purchase price of Seppälä does not have a significant effect on Stockmann's earnings. Further information: Kjell Sundström, Chief Strategy Officer, Stockmann, tel. +358 9 121 5877 Eveliina Melentjeff, CEO, Seppälä, tel. +358 9 121 7280 www.stockmanngroup.com STOCKMANN plc Per Thelin CEO Distribution: Nasdaq Helsinki Principal media News Source: NASDAQ OMX 31.03.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Stockmann Oyj Abp Finland Phone: Fax: E-mail: Internet: ISIN: FI0009000251 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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