OREANDA-NEWS. Talanx Asset Management GmbH has sold its 25.1 percent investment in the asset manager C-QUADRAT Investment AG to Cubic Limited by means of a share purchase agreement subject to a condition precedent. Talanx AG stands to generate profit after taxes according to IFRS of around EUR 25 million from the sale of the shares. At this early stage, Talanx is keeping its earnings forecast for the 2016 financial year unchanged and expects Group net income to exceed EUR 700 million in 2016. 

The shares will be sold to Cubic at a price of EUR 42.00 per share. In 2010, Talanx acquired the shares at a price of EUR 12.60 per share.
The aim is to continue and further expand the successful collaboration between the two companies, which stretches back many years. “We are looking forward to continuing our successful cooperation with C-QUADRAT,” commented Harry Ploemacher, CEO of Talanx Asset Management. “The collaborative initiatives and trading relationships will remain in place.” The two companies have been collaborating since the start of 2006 in the areas of administration and the management of investment funds.
The transaction is subject to approval by the supervisory authorities. 

Disclaimer
This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s control, affect Talanx AG’s business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement.

Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.