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Loomis AB: sells cash management operation in the UK
30.07.2012 - Loomis AB: sells cash management operation in the UK. Loomis AB’s cash handling operation in the United Kingdom Loomis Cash Management (LCM) has sold its fixed assets and operation...
Loomis AB: sells cash management operation in the UK. Loomis AB’s cash handling operation in the United Kingdom Loomis Cash Management (LCM) has sold its fixed assets and operation to Vaultex UK jointly owned by HSBC Bank and Barclays Bank.
The hand over of operation, assets and employees has taken place on 24 November 2007. The sale of the fixed assets and the operations will result in a loss of approximately MSEK 160 (MGBP 12) due to a lower transaction price than book value and a provision made for warranties agreed with the buyer.
The loss will be accounted for in the fourth quarter 2007.
