Gebr. Bode GmbH & Co. KG, of Kassel, Germany, a wholly owned subsidiary of Schaltbau Holding AG, has sold its 49% share in Beijing Bode Transportation Equipment Co. Ltd., China, via its subsidiary Gebr. Bode & Co. BeteiligungsGmbH.
The buyer is Mr Chen Bingyu, owner of Bode's Chinese joint venture partner to date, Hebei Xinghua Agate Co. Ltd. The purchase price is greater than the carrying amount in the low singledigit million euro region and leads to an additional profit of around € 0.8 million or approximately 40 cents per share. The transaction still requires the formal approval of the
The buyer is Mr Chen Bingyu, owner of Bode's Chinese joint venture partner to date, Hebei Xinghua Agate Co. Ltd. The purchase price is greater than the carrying amount in the low singledigit million euro region and leads to an additional profit of around € 0.8 million or approximately 40 cents per share. The transaction still requires the formal approval of the
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