Divestment gain for PubliGroupe from property sale in Zurich
PubliGroupe has sold its property at Holbeinstrasse 22/30 in Zurich, which was built in 1961 and extended in 1972 to Züblin Immo Ltd., a subsidiary of Züblin Ltd.
The Media Sales staff that used to work at this location and at Neumühlequai in Zurich have been brought together in the "Baslerpark" in Zurich. PubliGroupe has decided to retain ownership of the Neumühlequai property in the centre of Zurich, and to rent it out on a long-term let, but to sell the property in Holbeinstrasse. Both parties to the sale have agreed to maintain confidentiality about the price paid. The transaction will produce an after-tax book profit of over CHF 35 million for PubliGroupe, as the property was carried in the accounts at acquisition value less depreciation. This transaction will already impact the 2008 Half Year results to be published on 25 August 2008.
For further information:
PubliGroupe Ltd.
Andreas Schmidt, CFO
Tel.: + 41 21 317 73 08
Fax: + 41 21 317 75 55
E-mail : aschmidt(at)publigroupe.com
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