Gesco AG: Possible negative earnings impact from antitrust proceedings
Gesco AG / Key word(s): Legal Matter/Legal Matter Wuppertal, December 12, 2017 - In the context of investigations against manufacturers of steel products on suspicion of anti-competitive agreements and actions in the years 2003 to 2015, the Federal Cartel Office also investigates Dörrenberg Edelstahl GmbH, a 90% subsidiary of GESCO AG. The Federal Cartel Office has informed Dörrenberg Edelstahl GmbH of the possibility of refraining from initiating a fine proceedings against payment of a high single-digit million euro amount. In consultation with legal advisors, this possibility will be examined in detail and decisions will be made on how to proceed. Whether and, if so, under what conditions an agreement between Dörrenberg Edelstahl GmbH and the Federal Cartel Office is reached is currently open. Obligations in connection with this legal dispute would result in a negative impact on earnings at Dörrenberg Edelstahl GmbH and thus also on the level of the GESCO Group. The economic impact is currently not concrete quantifiable. The effects of this issue are to be taken into account in the consolidated financial statements for the current financial year 2017/2018.
12-Dec-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Gesco AG |
| Johannisberg 7 | |
| 42103 Wuppertal | |
| Germany | |
| Phone: | +49 (0)202 248200 |
| Fax: | +49 (0)202 2482049 |
| E-mail: | gesco@gesco.de |
| Internet: | www.gesco.de |
| ISIN: | DE000A1K0201 |
| WKN: | A1K020 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of Announcement | DGAP News Service |