Press release BoxID: 313234 (EOP Biodiesel AG)
  • EOP Biodiesel AG
  • Am Hünengrab 09
  • 16928 Pritzwalk
  • Contact person
  • Jörg Jacob
  • +49 (3398) 505-0

EOP Biodiesel AG closes ABID sale

All risks from the Austrian involvement have been cleaned up / Annual accounts for the financial year 2008/09 will be published on 14 January 2010 - AGM is scheduled for 23 February 2010

(PresseBox) (Pritzwalk, ) EOP Biodiesel AG has successfully closed the sale of its 61.5% stake in Austrian ABID Biotreibstoffe AG. The buyer is a financial investor, who specializes in restructuring of ailing industrial companies.Transaction price is €1, for which EOP will be exempted from its risks from its bank guarantees over €2.54m. EOP Biodiesel AG has already completely written off its investment in the financial year 2008/2009 as of 30 June 2009, which means that the current financial year is not negatively affected.

"With the sale of the ABID investment we got rid off a huge risk and we have achieved a further milestone in the restructuring of the company," says CEO Jörg Jacob.

Due to the subsequent formalities of the deal, the consolidated group accounts of EOP for the financial year 2008/2009 will be delayed. Publication of the complete annual report of the AG and the group will be published on 14 January 2010. The AGM for the financial year 2008/2009 is scheduled for 23 February 2010 in Pritzwalk.