SoWiTec group GmbH
SOWITEC group GmbH and Vestas Wind Systems A/S Agree on Minority Stake by Vestas of 25.1% with an Option to Acquire the Remaining Shares within the next Three Years
SoWiTec group GmbH / Key word(s): Agreement
SOWITEC group GmbH and Vestas Wind Systems A/S Agree on Minority Stake by Vestas of 25.1% with an Option to Acquire the Remaining Shares within the next Three Years
Sonnenbühl, 11 April 2019 – SOWITEC group GmbH (the Company), its sole shareholder Frank Hummel and Vestas Wind Systems A/S, Aarhus (Vestas) have entered today into an agreement about a participation of Vestas in the amount of 25.1% of the Company’s share capital. To this aim Vestas will acquire new shares from a capital increase against a cash contribution in the amount of 20% of the Company’s share capital as well as existing shares from Mr. Hummel. Moreover the agreement provides for a call-option under which Vestas is entitled to acquire the remaining 74.9% of the shares within the next three years. The agreement further provides for usual minority rights of Vestas. The Company expects from Vestas participation in the Company the continuation of the Company’s business strategy with improved opportunities for further growth. The agreements will presumably be consummated in the second quarter of 2019 upon receipt of antitrust clearance. SOWITEC group GmbH The Management Contact Person: Andreas Wagner Corporate Communications Phone: 07128 38 08-503 andreas.wagner@sowitec.com
11-Apr-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | SoWiTec group GmbH |
Löherstraße 24 | |
72820 Sonnenbühl | |
Germany | |
Phone: | +49 (0) 7128 3808-0 |
Fax: | +49 (0) 7128 3808-38 |
E-mail: | info@sowitec.com |
Internet: | www.sowitec.com |
ISIN: | DE000A2NBZ21 |
WKN: | A2NBZ2 |
Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Munich, Tradegate Exchange |
EQS News ID: | 799091 |
End of Announcement | DGAP News Service |