ICT Automatisering (ICT) today announces it has completed the sale of its German activities to Alten GmbH, a German subsidiary of Alten SA. As a result of the divestment, ICT will liquidate its German subsidiary, ICT Software Engineering GmbH.
Due to more attrition than anticipated and expected higher liquidation costs, on balance, the result on the divestment of the German activities is expected to be around € 800,000 negative, instead of the earlier disclosed slightly positive result. This result does not include the proceeds of a deferred tax benefit to be recognized in 2015, as a consequence of the liquidation, for which ICT is in talks with the Dutch tax authorities.
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