The Liquid Handling Business Acquisition Escrow Account Funds Returned To Biohit
4/1/2014 9:40:31 AM
In connection with the sale of the liquid handling business in the end of year 2011, 10% of the sales price, EUR 6.8 million, was transferred to an escrow account as collateral for any claims related to the sale. Biohit Oyj has received the balance EUR 6.8 million in full on March 31, 2014, because no claims related to deposit have been presented. Due to the terms and conditions of the sale and other unresolved issues related to the transaction EUR 3.5 million of the capital gain from the sale was not recognised as income. Operating profit for Q1 2014 from discontinued operations is estimated to show some EUR 3.2 million as a remaining capital gain for the sale. The exact amount will be specified in the interim report for Q1 2014.
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