28.08.2018
Grammer AG DE0005895403
DGAP-News: Tender offer accepted by Grammer shareholders - Ningbo Jifeng new majority shareholder
DGAP-News: Grammer AG / Key word(s): Miscellaneous
Tender offer accepted by Grammer shareholders - Ningbo Jifeng new majority
shareholder
28.08.2018 / 13:29
The issuer is solely responsible for the content of this announcement.
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Tender offer accepted by Grammer shareholders - Ningbo Jifeng new majority
shareholder
* Companies associated with Ningbo Jifeng hold roughly 84.23 percent of
Grammer shares
* Clear shareholder structure and intensified strategic partnership
Amberg, August 28, 2018 - The Grammer Group, a leading international
supplier of components for passenger-vehicle interiors and for commercial
vehicles has today been informed that roughly 58.66 of its shareholders have
accepted the tender offer submitted by a company associated with Ningbo
Jifeng. Including the share of 25.56 percent previously attributable to
Ningbo Jifeng, the strategic partner now holds a total of 84.23 percent of
Grammer's share capital and will also become its majority shareholder.
"We are pleased about the high acceptance by our shareholders for the offer
and the trust that they have shown in the investor as well as the agreements
that have been signed to guarantee the Grammer Group's independence and
future development. At the same time, we welcome the clarity that we have
now gained with respect to our shareholder structure. Our customers also
view the new principal shareholder very positively and with the enlarged
partnership with Ningbo Jifeng we can expect a positive contribution to
Grammer's future development," says Hartmut Müller, Chief Executive Officer
of Grammer AG.
Grammer's strategic partner submitted a tender offer to the shareholders at
the end of June 2018. Prior to this Grammer and Ningbo Jifeng had signed a
comprehensive business combination agreement to take effect upon acceptance
of the tender offer. This agreement provides for far-reaching guarantees for
jobs, facilities and intellectual property as well as safeguarding the
company's continued independence.
"Following the successful reorganization of our shareholder structure, we
can now fully concentrate on executing the acquisition of the US automotive
component supplier Toledo Molding & Die Inc. and integrating it within our
group. With this acquisition, we are confident of improving our position in
the Northern American market substantially and, thus, of gaining even better
access to American customers. At the same time, it will allow us to expand
our technological skills and product range," says Müller. "Both of these
measures will open up further growth potential for us in the United States
and Asia."
Following the execution of the tender offer, Grammer AG will continue to be
listed in the Prime Standard of the Frankfurt stock exchange. Looking
forward, Grammer will remain an attractive investment for all of its
shareholders and thus continue its active and transparent investor relations
activities for the benefit of all shareholders.
Company profile
Located in Amberg, Germany, Grammer AG specializes in the development and
production of components and systems for automotive interiors as well as
suspension driver and passenger seats for onroad and offroad vehicles.
In the Automotive Division, we supply headrests, armrests, center console
systems and high-quality interior components and operating systems to
premium automakers and automotive system suppliers. The Commercial Vehicle
Division comprises seats for the truck and offroad seat segments (tractors,
construction machinery, forklifts) as well as train and bus seats.
With over 13,000 employees, Grammer operates in 19 countries around the
world.
Grammer shares are listed in the SDAX and traded on the Frankfurt and Munich
stock exchanges via the electronic trading system Xetra.
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
[email protected]
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28.08.2018 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: Grammer AG
Georg-Grammer-Str. 2
92224 Amberg
Germany
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: [email protected]
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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718089 28.08.2018
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