Daldrup & Söhne AG
Daldrup & Söhne AG intends to sell shares in Landau geothermal power plant and Geysir Europe

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Daldrup & Söhne AG intends to sell shares in Landau geothermal power plant and Geysir Europe

Grünwald / Ascheberg, 31 May 2019 – The drilling technology and geothermal specialist Daldrup & Söhne AG (ISIN DE0007830572) has agreed a binding termsheet with IKAV Group represented by Luxemburger Fonds IKAV Invest S.à r.l. on the acquisition of shares in Geothermiekraftwerk Landau and Geysir Europe GmbH. As a first step IKAV intends to acquire 49.9 percent of the shares in Geox GmbH, the operating company of the Landau geothermal power plant. The agreement also includes the intended acquisition of 48.9 percent of the shares in Geysir Europe GmbH, including the project companies with the exception of Geothermie Neuried GmbH & Co. KG. The total transaction price is expected to be approximately EUR 5.2 million. The closing of the transactions is scheduled for 15 June 2019.
A separate agreement is being sought for the Taufkirchen geothermal power plant.

The sale of the shares is an essential part of the restructuring measures which the Executive Board will implement on the basis of the operating result for the 2018 financial year. Among other things, they serve to reduce the Group’s debt.