Beter Bed Holding has reached agreement to divest Matratzen Concord for a purchase price of approx. €5 million in cash, plus an additional contingent deferred payment in cash dependent on the performance of Matratzen Concord in the first year after completion.
As part of the investment in Matratzen Concord, Magical Honour Limited is committing to invest €15 million in Matratzen Concord to ensure the company’s recovery and future growth. The divestment of Matratzen Concord is accompanied by a concurrent equity investment in Beter Bed Holding of Magical Honour Limited of € 5 million, consisting of 2.15 million shares at €2.32 per share.
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