MLP
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MLP successfully concludes sale of Austrian business unit

  • Agreement signed

Wiesloch, 16th September 2009 - The independent financial and wealth management consultant company MLP has successfully sold its Austrian foreign business unit to Aragon AG. The transaction is subject to approval by the cartel authorities as well as the financial market supervisory authorities in Austria.

The acquisition price, which totals between 2.5 and 5 million Euros and be finally determined following the assessment of all issues, will be paid over a period of several years. MLP will post the sales proceeds through its profit and loss account in the current business year. In return restructuring expenses will arise for MLP which will be posted in the profits for discontinued business operations.

MLP was represented in Austria since 1995 where 59 consultants advised over 15,000 clients. In the future the company not only plans to focus on its core business in Germany with private clients, but also to directly drive the internationalisation of its subsidiary, Feri.