net mobile AG
net mobile increases shareholding in BankvereinWerther AG to more than 75 percent
net mobile AG / Key word(s): Acquisition CORPORATE NEWS net mobile AG increases shareholding in BankvereinWerther AG to more than 75 percent net mobile AG (ISIN: DE0008137852), a leading international full-service provider for mobile and interactive value-added services has entered into share purchase agreements with major shareholders of Bankverein Werther AG, Werther. Following the completion of the acquisition of shares and convertible bonds under these share purchase agreements net mobile AG will increase its direct participation in BankvereinWerther AG to at least 75 % of the shares and more than 75 % of the outstanding convertible bonds issued by Bankverein Werther AG. Regarding the purchase price the parties have agreed on confidentiality. net mobile AG intends to acquire additional shares to further increase its stake in Bankverein Werther AG. Bankverein Werther AG is a retail and commercial bank founded in 1877 with a full banking licence enabling the bank to operate throughout the EU. Bankverein Werther AG is a principle member of both MasterCard Europe and Visa Europe, and is a specialised provider of cards and payments products including white label, partner brand products and specialised innovative bank propositions. During its pending owner control investigation according to German Banking Act, the German Federal Financial Supervisory Authority (BaFin) has not yet raised any objections against the acquisition of Bankverein Werther AG. It is intended to close the transaction in October. The acquisition is part of net mobile midterm strategy to become a major player in the European mobile Payment field The acquisition shall be financed by a capital increase with statutory subscription rights for shareholders. In addition to the acquisition financing, the capital increase is also intended to strengthen net mobile AG’s further equity and financial scope. net mobile AG’s indirect majority shareholder NTT DOCOMO, INC will support the capital increase by making funds available up to an amount of 28.4 million euro. Details of the capital increase will be decided and announced at later stage. Mr Theodor Niehues, CEO net mobile AG, said ‘With the acquisition of the majority of shares net mobile is able to strengthen its position in the fast growing mobile payment market. It will help us to develop the mobile payment solutions that have been already invented by our major shareholder in Asia.’ Mr Danyon Lloyd, CEO of BankvereinWerther AG, said ‘After the recent successful restructuring of the bank and our transformation to an international payments and online banking specialist, we look forward to working with net mobile and their major shareholders in Asia to create a successful European mobile payments and banking business.’ About net mobile AG Media contact End of Corporate News 22.09.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | net mobile AG | |
Zollhof 17 | ||
40221 Düsseldorf | ||
Germany | ||
Phone: | +49 (0)211 970 20-0 | |
Fax: | +49 (0)211 970 20-999 | |
E-mail: | info@net-m.de | |
Internet: | www.net-m.de | |
ISIN: | DE0008137852 | |
WKN: | 813785 | |
Listed: | Freiverkehr in Berlin, Hamburg, München (m:access), Stuttgart; Open Market in Frankfurt | |
End of News | DGAP News-Service |
140005 22.09.2011 |