Spanish technology company sells its subsidiary venez ...

Spanish technology company sells its subsidiary venez …

February 19, 2015

The Spanish group Amper has closed an agreement for the sale of its subsidiary in Venezuela Desarrollo de Soluciones Especiales (DSE) to Ertona Business for the symbolic price of 1 euro and the commitment that it will assume all the outstanding debt of the company it buys.

As Amper reported today to the Spanish National Securities Market Commission (CNMV), the transaction implies a loss of about 500,000 euros (about $ 569,000) considering an official exchange rate of 6.3 bolivars per dollar.

In addition, by writing off all Amper affiliate accounts with DSE, the disposal will generate an additional accounting loss of 6 million euros (about 6.8 million dollars).

Amper has not detailed how much the debt of its subsidiary amounts to.

via Spanish company Amper sells its Venezuelan subsidiary at a symbolic price.

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