, November 11, 2010

Ordina finalises the sale of ORMIT

Ordina completed today the sale of its fully owned subsidiaries ORMIT B.V. and ORMIT België N.V.. On 14 October 2010, Ordina announced that an agreement in principle for the sale of ORMIT, based on the situation of 30 June 2010, had been signed between Ordina and the management of ORMIT, Van Lanschot Participaties and Berk Partners. The selling price of ORMIT amounts to EUR 11.7 million. The book gain ads up to approximately EUR 6 million. 

ORMIT employs about 150 people. For the full year 2010, ORMIT expects to generate a revenue of EUR 14 million, at an EBITDA of EUR 1.3 million. Now that ORMIT has been sold, the company will become an independent entity. All shares in ORMIT have been transferred to its buyers as of today.