bmp Holding AG parts with remaining venture capital portfolio

As planned, bmp Holding AG (DE000A2E3772) has sold the shares in its six remaining venture capital minority interests to a private investor in a secondary transaction effective 30 June 2017. This clears the way to focusing completely on the new core business, online retail in the sleep products segment.

The EUR 5 million purchase price for the investments, which were previously contributed to the wholly owned bmp subsidiary ReFer GmbH, is close to the IFRS carrying amount of EUR 5.3 million as of 31 March 2017 and considerably higher than the HGB carrying amount of EUR 4.0 million. In addition, a 20-50% share in future sales proceeds above the sale price plus any follow-up investments was agreed. The purchase price is to be paid via the repayment of existing loans of EUR 3.5 million and a cash payment of EUR 1.5 million.

“For the bmp Group, finally parting with our remaining venture capital portfolio was a crucial step,” explains Oliver Borrmann, Executive Board member of bmp Holding AG. “We have now achieved this at fair terms and by the desired date. With a clean structure, strengthened liquidity and a significantly improved equity ratio, we are now in an ideal position to concentrate on our operating business and to set a course for growth again.”

bmp continues to consider the possibility of bringing in Cubitato and the full integration of the existing subsidiaries. A larger capital measure, whereby shareholders will have preemptive rights, is also still being targeted in the second half of 2017.