KROMI Logistik AG
KROMI Logistik AG: Investmentaktiengesellschaft für langfristige Investoren TGV becomes majority shareholder
DGAP-News: KROMI Logistik AG / Key word(s): Offer – Investmentaktiengesellschaft für langfristige Investoren TGV increases stake in KROMI Logistik to 63.34% and announces voluntary takeover offer to KROMI shareholders – Attractive premium of 22.45% above the closing price of the KROMI share on 15 June 2016 or 23.33% on the basis of the volume-weighted average price for the last three months before announcement of the transaction – Members of the Managing Board with a total of 9.46% will still be substantially invested in the Company Hamburg, 16 June 2016 – With Investmentaktiengesellschaft für langfristige Investoren TGV (hereinafter also referred to as “Langfrist”) which has already held a stake in KROMI Logistik AG since 2008, KROMI Logistik AG (hereinafter also the “Company”), a provider of end-to-end tool logistic solutions for manufacturing companies, gains a stable and reliable majority shareholder for the future. Today Langfrist has agreed with Company CEO Jörg Schubert, Peter Caro and the respective family-owned companies attributable to them as well as KROMI Beteiligungsgesellschaft mbH the transfer of a block of shares. On the basis of a purchase agreement, Langfrist will acquire from the founders and principal shareholders a total of 1,860,007 shares, equivalent to 45.09% of the outstanding Company shares. The members of the Managing Board, Axel Schubert and Bernd Paulini, each hold 25% of KROMI Beteiligungsgesellschaft mbH. The contractually agreed price per share is EUR 12.00; the settlement of the share purchase agreement is subject to, inter alia, anti-trust clearance. Upon settlement, Langfrist will increase its stake in the Company from the current level of 18.25% to 63.34%. Within the framework of the transaction, Jörg Schubert and his family will transfer The Company has further been informed that Langfrist decided to make a voluntary takeover offer pursuant to § 29 WpÜG (German Securities Acquisition and Takeover Act) to all company shareholders for all shares of the Company. Subject to the final determination in the offer document, Langfrist intends to offer to the shareholders of KROMI Logistik AG to acquire the shares held by them for a consideration of EUR 12.00 per share. Based on the closing price of the shares of KROMI Logistik AG on 15 June 2016 before announcement of the transaction, this represents a premium of 22.45%. On the basis of the volume-weighted average price for the last three months before announcement of the transaction, the premium for the KROMI shareholders is 23.33%. In his position as CEO and long-term majority shareholder in KROMI Logistik AG, Jörg Schubert regards the agreement as very positive: “During the last eight years we have come to know Langfrist as a long-term, trustful and constructive anchor investor. The fact that Langfrist is now substantially increasing its investment in KROMI again demonstrates their great confidence in the success of our company and our business model. This is good news for our workforce, our customers, suppliers and all our business partners because Langfrist stands for continuity and stability.” Jens Große-Allermann, member of the Managing Board of Investmentaktiengesellschaft für langfristige Investoren TGV comments: “KROMI Logistik has an innovative and highly attractive business model. We have been closely involved with the company for many years and are very familiar with the people involved and the relevant tool management market. In our view, KROMI is clearly the leading company in this sector. We also particularly appreciate the Managing Board’s long-term approach, professionalism and the passion with which it has developed the company over the last decade. In our opinion, this is exactly the right team with which we intend to exploit the market potential in the coming years.” About KROMI Logistik AG Visit us online at: www.kromi.de Investor relations contact:
2016-06-16 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | KROMI Logistik AG | |
Tarpenring 11 | ||
22419 Hamburg | ||
Germany | ||
Phone: | 040/537151-0 | |
Fax: | 040/537151-99 | |
E-mail: | info@kromi.de | |
Internet: | www.kromi.de | |
ISIN: | DE000A0KFUJ5 | |
WKN: | A0KFUJ | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart | |
End of News | DGAP News Service |