The Management Board of Desso Holding BV (hereinafter referred to as 'Desso') announces that the sale of its Sports activities to Domo Industries, headquartered in St. Niklaas, Belgium (hereinafter referred to as 'Domo') will not go ahead. Despite efforts to reach an agreement, negotiations have been unsuccessful.
On the 8th August 2012, Desso announced the intention to sell its Sports activities to Domo Industries.
"It is regrettable that both parties did not reach an agreement at such an advanced stage in the process. Especially after a long and time consuming due diligence process in which employees have been left in uncertainty, which is very unfortunate."
Tom Francken, Desso Chief Financial Officer
Desso will review its earlier announced restructuring plans based on this development and will continue with its Sports activities (artificial grass and DESSO GrassMaster pitches).