, April 17, 2009

Ordina completes the sale of BPO

Ordina completed today the sale of its subsidiary, Ordina BPO B.V. (BPO). The Netherlands Competition Authority (known as NMa) has approved the transition of activities to Centric Software Engineering Holding B.V. (Centric).

On the 27th of February, Ordina announced that an agreement had been reached with Centric regarding the sale of all shares in BPO, including all rights and obligations. The effective date of the sale of BPO will be the 1st of April 2009. As announced on the 27th of February, the loss that results from the transaction, including the operational results in the first quarter of 2009, amounts to approximately EUR 34 million. Of this amount, EUR 32 million will be charged against the results of 2008. A large part of this amount will be paid to Centric in compensation for future investments and operational costs. Parts of these payments will be settled in the second half of 2009 and the first half of 2010.