Vivanco Gruppe AG
Vivanco Gruppe AG: Strategic Investor acquires majority stake in Vivanco Gruppe AG
Vivanco Gruppe AG / Key word(s): Mergers & Acquisitions 29.03.2011 15:44 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Strategic Investor acquires majority stake in Vivanco Gruppe AG Ship Group, Ningbo/China, has today signed a sales and purchase agreement for the acquisition of 66,67% of the shares of Vivanco Gruppe AG with the current majority shareholder of the Group, LSF Irish Holdings III Limited. It is planned as part of this that Vivanco Gruppe AG management also acquires shares from LSF Irish Holdings III Limited. The transfer of the shares and a public tender offer will be published within the legally required time frame. Ship Group operates among others manufacturing plants in China for electronic accessories products and is with an annual turnover of more than 200 m Euro one of the largest market participants in this industry. Ship Group has for many years been a major supplier for Vivanco Gruppe AG in many products. The new combination with Ship Group offers Vivanco excellent strategic opportunities in the supply markets in China. The economic advantages for Vivanco are especially in a close cooperation with Ship Group in its purchasing activities in China, which will have a positive impact on the supply chain processes, the cooperation with all its suppliers, and access to innovation. For Ship Group, Vivanco offers access to the European market with a wide ranging coverage and a proprietary sales and service function, very good client relationships to all relevant channels, and an excellent marketing platform. In this way, manufacturing and marketing of electronic accessories will be closely linked in the future. A fundamental change or restructuring of Vivanco's European activities has not been planned. As part of the acquisition, credits of 15 m Euro granted to the Group by MHB Bank AG, Frankfurt, which remained Vivanco liabilities after the balance sheet restructuring of 2010, will remain long term credits to Vivanco until 31.12.2015. The credits pay no interest in 2011 and 2012. For subsequent years, interest payments will be capped at low rates. Vivanco Gruppe AG liquidity will further be fundamentally reorganised and strengthened through an agreement with Ship Group concerning the financing of the Group's merchandise purchases in China and a new shareholder loan. Vivanco Gruppe AG The Executive Board 29.03.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Vivanco Gruppe AG Ewige Weide 15-17 22926 Ahrensburg Deutschland Phone: +49(0) 41 022 31-0 Fax: +49(0) 41 022 31-2 07 E-mail: vivancoag@vivanco.de Internet: www.vivanco.de ISIN: DE000A1E8G88 WKN: A1E8G8 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found