EANS-Adhoc: XAC is new majority owner of FACC AG
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
03.10.2009
XAC is new majority owner of FACC AG
- A strong and committed owner to support the further profitable growth of FACC AG
- Position as development and system supplier will be strengthened
- A significant capital share increase underpins future business development
- Committed to maintain operations in Austria
Ried, Beijing, October 3, 2009 - Today the stockholders of Austria's
leading aviation supplier FACC AG ("FACC") and Xi'an Aircraft
Industry (Group) Company Ltd. ("XAC") have signed an agreement
relating to the acquisition of the majority of shares in FACC by XAC.
Upon completion of the acquisition, 91.25% of the shares of FACC AG
will be held by XAC, 5% will remain in possession of the Austrian
holding company ACC Kooperationen und Beteiligungen GmbH and 3.75%
will be retained by Stephan Ges.m.b.H. The transaction which is
subject to customary regulatory approvals is expected to be finalized
by the end of the fourth quarter of 2009. After the completion of the
acquisition, a share capital increase will be carried out, raising
shareholders' equity from the current 40 million Euros up to no less
than 80 million Euros. This primary equity capital raising will
assure the planned business development of FACC.Further inquiry note:
Dr. Bernhard Matzner
Chief Financial Officer/FACC AG
Tel. 059-616-1324
b.matzner@facc.at
Branche: Industrial Components
ISIN: AT0000A05TW8
WKN:
Börsen: Wien / Regulated free trade