Bure Acquires Leading German Training Company.Business Editors GOTHENBURG Gothenburg: see Göteborg, Sweden. , Sweden--(BUSINESS WIRE)--Dec. 21, 2001 Bure acquires 100 percent of Prokoda Training & Services GmbH from M2S M2S Morningside Stud (UK) M2S MPEG2 Stream M2S Multi-Mission Seeker M2S Modified Delay Modulation Space . The acquisition means a significant strengthening of Bure's investment within the corporate training sector in the European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. market. Bure acquires Prokoda Training & Services from M2S for a purchase of approximately SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 24M. Discussions with M2S have been underway since summer 2001. In connection with these discussions, Bure granted M2S a loan for SEK 20M with the shares in Prokoda as collateral. Bure now receives full payment for this loan from M2S AB's estate in bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most . Bure invests in building a leading corporate training operation, partly through Mercuri International and Informator Training Group. Bure initiated discussions with M2S in late spring 2001as a part of its investment in teacher-led training programmes and with the aim of expanding its operations in Europe. Prokoda was established in Cologne Cologne (kəlōn`), Ger. Köln, city (1994 pop. 962,500), North Rhine–Westphalia, W Germany, on the Rhine River. It is a commercial, financial, and industrial center, a rail and road junction, and a river port. in 1987 and is currently a leading training company in Germany with operations in 11 locations. The company has 110 employees and is expected to report sales of SEK 110M in 2001. Prokoda reports profitability during the current quarter and has generated a high operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: over time. Customers include several leading German companies and public authorities. "The acquisition means a strengthening of Bure's investment in the IT training sector and we view Prokoda as a platform for further expansion in the German market. Bure's training company, Mercuri International, and the partly-owned company, Celemi, already hold strong positions in the German market. Together, our companies can offer very interesting customer solutions," says Sven-Ake Lewin, Senior Investment Manager in Bure. Following the acquisition, sales of Bure's IT training operations, which have activities in Sweden, Germany and Norway, amount to approximately SEK 270M. Bure's training operations in the corporate sector report total sales of approximately SEK 1,200M, of which more than SEK 200M in Germany. Note to Editors: This press release is also accessible online at www.Waymaker.net. |
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