Mycab is selling Tågtaxi at 17,5 MSEK
As a strategic move, related to Mycabs shift towards international products and the restructuring of the Swedish operations, Mycab is disposing its Swedish train transfer product known as Tågtaxi to its local partner Flygtaxi Sverige AB at a price of 17,5 MSEK.
Tågtaxi is limited to the Swedish market, with an annual sale at 25 MSEK. The product has been corporatized whose shares now are disposed of to Flygtaxi Sverige AB.
Payment is made against cash in instalments amounting to 9,0 MSEK during 2012 and 8,5 MSEK during 2013. The entire consideration constitutes capital gain and the entire amount will be recognized as revenue during 2012.
The disposal of Tågtaxi is justified by Mycab Group international strategy, which implies focusing on international flight transfers where the support functions are shifted to low cost countries in Asia. In this shift, Tågtaxi is deemed to benefit more with a Swedish owner, which can provide relevant local conditions for future development.
Roger Blomquist, VD
Download this Press Release: 2012-07-02 Press Release (PDF)