Axel Springer AG said it expects to write down the value of postal service provider PIN Group AG, in which it holds a majority stake, by up to 620 mln eur this year after talks with the other owner to finance the business failed.
The write-down will have a negative impact on net profit, it said in a statement.
PIN Group will be included in discontinued operations in the company’s full-year results.
KEBA, headquartered in Linz (Austria) and operating globally, is a leading provider of industrial, handover, and energy automation solutions. With around 2,000 employees, KEBA develops and manufactures innovative systems such as control and drive technology, ATMs, parcel locker and transfer solutions, e-charging stations, and heating […]
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