In mid-July, paragon found itself on the home stretch with the sale of Voltabox shares. They wanted to close the sale in the third quarter. That was said in connection with the presentation of quarterly figures.
After that, no one heard of the sales plans for a long time. A few weeks ago, representatives from Voltabox told our editorial team at the Equity Forum virtual autumn conference that the sales talks were ongoing. However, it is unclear whether this can be successfully completed in a few days or whether it will drag on for a longer time.
Today, paragon boss Klaus Dieter Frers is providing a little more clarity at a virtual investor conference in Vienna. At the request of our editorial team, he confirms ongoing sales talks for the Voltabox shares. However, these take longer due to the various restrictions surrounding the pandemic. As a result, those involved could not travel as they had hoped, which made the talks difficult and delayed.
According to Frers, there are several very interested investors. That could already be heard at the autumn conference. A contract should now be signed in a few weeks. Accordingly, Frers expects the transaction to close in the fourth quarter.
Paragon currently holds around 60 percent of all Voltabox shares. Given the current market capitalization of Voltabox, this block of shares has a value of around 29 million euros.
Frers does not want to use the money from the sale for a special dividend. Instead, he wants to reduce the debt and invest in the business. You want to expand and expand the portfolio. Here he sees the money well spent.