Agfa Final resolution of price adjustment related to sale of Offset to Aurelius
In a press release -in which adherence to legal exactitude substantially compromised the clarity of the communication- Agfa announced the final resolution of the purchase price adjustment related to the 2022 sale of its Offset Solutions division to Aurelius.After contacting Agfa's management, it became clear that -following the independent expert's ruling- Agfa should receive €19.9m in cash within 15 business days, bringing the miss in total cash receipts from the original receivable of € 31.4m down to ‘only' € 5.6m. This should remove a long-standing uncertainty, strengthens liquidity, and allows Agfa's management to fully focus on its transformation strategy.
This development is clearly positive for Agfa from a liquidity, risk, and governance perspective. While not a core value driver, it improves transparency and reduces execution risk around Agfa's transformation. The news should be seen as supportive for the share price, particularly as the focus was shifted towards concerns about legacy issues and cash discipline.
Agfa-Gevaert develops, produces and distributes various analog and digital imaging systems and IT solutions, mainly for the printing industry and the healthcare sector, as well as for specific industrial applications. Co.'s operations can be divided into three business segments: Agfa Graphics, which provides integrated prepress products and services to the printing industry; Agfa HealthCare, which provides diagnostic imaging and healthcare IT products for hospitals and care centers around the world; and Agfa Specialty Products, which supplies a variety of film-based products to business- to-business customers outside the graphic and healthcare markets.
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