Dürr acquires majority shareholding in the HOMAG Group
Majority share acquisition closed
The acquisition of the majority shareholding in HOMAG Group AG by Dürr Technologies GmbH, a wholly owned subsidiary of Dürr AG, has been completed. On July 15, 2014, Dürr announced that agreements had been reached with various major shareholders for the acquisition of a total interest of 53.7 percent of the HOMAG shares. Following the necessary approval by the respective antitrust authorities in Germany and abroad, Dürr has now acquired the majority shareholding in HOMAG Group AG, effective as of October 10, 2014.
Dr. Markus Flik, CEO of HOMAG Group AG, welcomes the acquisition: “Dürr’s majority shareholding is a milestone in our development as a company – we now belong to a high-performance machine building and plant engineering group. Both parties will benefit from the cooperation.”
The voluntary public bid Dürr made to the other HOMAG shareholders that ended on October 7, 2014 was accepted for 2.1 percent of the shares. Furthermore, Dürr joined the shareholder pool of the Schuler family and the Klessmann Foundation, which itself holds 22.1 percent, with 3 percent of its shares. The shareholder pool will agree to the planned conclusion of a domination and profit and loss transfer agreement between Dürr and HOMAG Group AG. Dürr has a total of 77.9 percent of the voting rights for the purpose of passing such resolutions at the annual general meeting of HOMAG Group AG.
The HOMAG Group will be fully consolidated in the Dürr Group as of October 1, 2014.
Disclaimer
This press release contains certain statements relating to the future. Future-oriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as “believes”, “estimates”, “assumes”, “forecasts”, “intend”, “may”, “will”, “should” or similar expressions. Such future-oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the Company, which may not occur in the future or may not occur in the anticipated form. The Company points out that such future-oriented statements do not guarantee the future; actual results including the financial position and the profitability of the HOMAG Group as well as the development of economic and regulatory framework conditions may deviate significantly (and prove unfavorable) from what is expressly or implicitly assumed or described in these statements. Even if the actual results of the HOMAG Group including the financial position and profitability as well as the economic and regulatory framework conditions should coincide with the future-oriented statements in this announcement, it cannot be guaranteed that the same will hold true in the future.