18.07.2016
KION GROUP AG DE000KGX8881
DGAP-News: Successful capital increase by KION GROUP AG (news with additional features)
DGAP-News: KION GROUP AG / Key word(s): Capital Increase
Successful capital increase by KION GROUP AG (news with additional features)
18.07.2016 / 21:45
The issuer is solely responsible for the content of this announcement.
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- 9,890,000 new shares placed at EUR46.44 each
- Issue proceeds to be used for the partial refinancing of the Dematic
acquisition
- Anchor shareholder Weichai Power receives 60 per cent of the new shares
Wiesbaden, 18 July 2016 - Today, KION GROUP AG successfully completed the
capital increase resolved upon earlier today. All of the 9,890,000 new
shares were placed at a price of EUR46.44 each which was set in an
accelerated bookbuilding offering for institutional investors. Weichai
Power, the anchor shareholder of KION GROUP AG, acquired 5,934,000, or 60
per cent, of the new shares, increasing its stake in the company to ca. 40
per cent. The remaining shares were offered to institutional investors as
part of the accelerated bookbuilding offering.
With the consent of the Supervisory Board, the Executive Board of KION
GROUP AG resolved to use the existing authorised capital in full and to
increase the Company's share capital by 10 per cent against cash
contributions, excluding shareholders' subscription rights. The Company's
new no-par-value bearer shares will be entitled to dividend pay-outs from
the 2016 fiscal year.
The gross proceeds from the capital increase amount to approximately
EUR459.3 million.These proceeds will be used to partly refinance the
acquisition of Dematic, a company specialising in automation and supply
chain optimisation. This acquisition will establish the KION Group -
already one of the world's two largest suppliers of forklift trucks,
warehouse technology and associated services - as one of the world's
leading providers of intelligent intralogistics solutions. Leveraging its
sales and service networks, technologies and resources, the enlarged
company will be able to seamlessly offer the full material handling product
and service offering to customers of all sizes in a broad range of
industries around the world.
The transaction will initially be funded by a bridge loan facility of
EUR3.0 billion that has been firmly committed by a group of KION Group's
core relationship banks and will be reduced by the proceeds from this
equity issuance. In addition to this 10 per cent capital increase, the
acquisition will also to be refinanced permanently by long-term capital
markets and bank debt. The KION Group has a conservative financial policy
of maintaining a strong cross-over credit profile with reliable access to
debt capital markets. Going forward, the KION Group would therefore ask for
the approval of its shareholders to create another authorized capital of up
to 10 per cent. This authorized capital would be used in the future should
the KION Group believe it to be prudent to do so at that time.
As the KION Group's anchor shareholder, Weichai Power supports the
Company's strategy of organic growth and growth by acquisition. "We would
like to thank our investors for their strong support for the Dematic
acquisition, as reflected in the strong demand for our newly issued shares.
Furthermore, we are delighted to be taking the major step represented by
the Dematic acquisition alongside our anchor shareholder, which is once
again demonstrating its long-term focus and its confidence in the strategy
chosen by KION's Executive Board," said Gordon Riske, Chief Executive
Officer of the KION Group. "Securing Weichai Power as a very important and
financially robust shareholder back in 2012 has been very positive for the
Group's growth. In addition, Weichai Power provides invaluable support for
our activities in China, which is an extremely important market for the
KION Group's products."
Website: kiongroup.com/mediasite
Twitter: @kion_group
The Company
The KION Group - comprising the seven brands of Linde, STILL, Fenwick, OM
STILL, Baoli, Voltas and Egemin Automation - is the largest manufacturer of
industrial trucks in western and eastern Europe, the global number two in
the industry and the leading non-domestic supplier in China. The Linde and
STILL brands serve the premium segment worldwide. Fenwick is the largest
supplier of material handling products in France, while OM STILL is a
market leader in Italy. The Baoli brand focuses on the economy segment, and
Voltas is a leading provider of industrial trucks in India. Egemin
Automation is a leading international logistics automation specialist.
The KION Group is present in more than 100 countries and, in 2015, employed
around 23,500 people and generated revenue of around EUR5.1 billion. KION
GROUP AG is listed on Deutsche Börse's Frankfurt Stock Exchange, the MDAX
(the German stock index for medium-sized companies), the STOXX Europe 600
index, which comprises the 600 largest companies in Europe, and the FTSE
EuroMid, which is made up of mid-cap European stocks.
Disclaimer
This document and the information contained herein are for information
purposes only and do not constitute a prospectus or an offer to sell or a
solicitation of an offer to buy any securities in the United States or in
any other jurisdiction.
This release contains forward-looking statements that are subject to
various risks and uncertainties. Future results could differ materially
from those described in these forward-looking statements due to certain
factors, e.g. changes in business, economic and competitive conditions,
regulatory reforms, results of technical studies, foreign exchange rate
fluctuations, uncertainties in litigation or investigative proceedings, and
the availability of financing. We do not undertake any responsibility to
update the forward-looking statements in this release.
Further information for the media
Michael Hauger
Head of Corporate Communications
Tel.: +49 (0)611 770 655
[email protected]
Frank Brandmaier
Head of Corporate Media Relations
Tel.: +49 (0)611 770 752
[email protected]
Further information for investors
Frank Herzog
Head of Corporate Finance
Tel.: +49 (0)611 770 303
[email protected]
Dr Karoline Jung-Senssfelder
Head of Investor Relations and M&A
Tel.: +49 (0)611 770 450
[email protected]
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Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=EFPBGBILTC
Document title: Download press release as PDF
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18.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: KION GROUP AG
Abraham-Lincoln-Str. 21
65189 Wiesbaden
Germany
Phone: +49 (0)611 770-0
Fax: +49 (0)611 770-690
E-mail: [email protected]
Internet: www.kiongroup.com
ISIN: DE000KGX8881
WKN: KGX888
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart; Terminbörse EUREX
End of News DGAP News Service
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483559 18.07.2016
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