EANS-Adhoc: ANDRITZ AG: Request for squeeze out from ANDRITZ Beteiligungsgesellschaft IV GmbH to Schuler Aktiengesellschaft
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
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Company Information
14.04.2020
Graz, April 14, 2020 -
ANDRITZ AG intends to take over all shares of Schuler Aktiengesellschaft and,
for this purpose, to implement a process at Schuler Aktiengesellschaft for
transfer of the shares of minority shareholders (so-called squeeze out pursuant
to the German Stock Corporation Act).
Today, the Executive Board of ANDRITZ AG, with the approval of the ANDRITZ AG
Supervisory Board, resolved to instruct the management of ANDRITZ
Beteiligungsgesellschaft IV GmbH ("ANDRITZ BTG IV") to issue a request pursuant
to the first sentence of Section 327a(1) of the German Stock Corporation Act
(AktG) to the Executive Board of Schuler Aktiengesellschaft. Consequently, the
management of ANDRITZ BTG IV has submitted a formal request to the Executive
Board of Schuler Aktiengesellschaft to initiate the procedure for a squeeze out
according to the German Stock Corporation Act.
ANDRITZ BTG IV, a wholly-owned subsidiary of ANDRITZ AG, currently holds 96.62%
of the share capital of Schuler Aktiengesellschaft and is thus the main
shareholder as defined in the first sentence of Section 327a(1) of AktG. The
amount of the appropriate cash compensation to be provided by ANDRITZ BTG IV as
main shareholder to the minority shareholders of Schuler Aktiengesellschaft for
transfer of the shares has not yet been decided.
The Executive Board of ANDRITZ AG
- End -
INSIDER INFORMATION AVAILABLE FOR DOWNLOAD
This insider information is available for download at andritz.com/news [http://
www.andritz.com/news?utm_source=GR-press-release].
FOR FURTHER INFORMATION, PLEASE CONTACT
Dr. Michael Buchbauer
Head of Corporate Communications
michael.buchbauer@andritz.com
andritz.com
Zwtl.: ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of innovative
plants, equipment, systems and services for the pulp and paper industry, the
hydropower sector, the metals processing and forming industry, solid/liquid
separation in the municipal and industrial sectors, as well as animal feed and
biomass pelleting. The global product and service portfolio is rounded off with
plants for power generation, recycling, the production of nonwovens and
panelboard, as well as automation and digital solutions offered under the brand
name of Metris. The publicly listed group today has around 29,500 employees and
more than 280 locations in over 40 countries.
Further inquiry note:
FOR FURTHER INFORMATION, PLEASE CONTACT
Dr. Michael Buchbauer
Head of Corporate Communications
michael.buchbauer@andritz.com
andritz.com
end of announcement euro adhoc
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issuer: Andritz AG
Stattegger Straße 18
A-8045 Graz
phone: +43 (0)316 6902-0
FAX: +43 (0)316 6902-415
mail: welcome@andritz.com
WWW: www.andritz.com
ISIN: AT0000730007
indexes: WBI, ATX
stockmarkets: Wien
language: English