Scholz Holding GmbH
Scholz Holding GmbH: Investor process for Scholz Holding GmbH gains momentum
Scholz Holding GmbH / Key word(s): Bond 02.05.2016 17:20 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Press Release Scholz Holding GmbH London, 2 May 2016 Investor process for Scholz Holding GmbH gains momentum - Hong Kong listed Chiho-Tiande Group submits offer to buy Scholz Group's secured debt and announces desire to acquire majority of shares - CRO Michael Thomas: "Strong interest from two respected parties is a clear indication of the high attractiveness of the Scholz Group" The investor process for Scholz Holding GmbH has gained momentum. As previously announced, Scholz Holding GmbH is currently in exclusive negotiations with the US investor KKR Credit regarding a comprehensive recapitalization of, and investment in, the Group. However, in an ad-hoc announcement, the Chiho-Tiande Group headquartered in Hong Kong today confirmed that it has submitted an offer to the holders of the Group's secured debt for the purchase of their claims. According to the announcement, the nominal amount of the claims included in the offer is EUR 524m. Chiho-Tiande Group, the self-proclaimed largest metal recycling enterprise in China, also announced its desire to subsequently acquire the majority of shares in Scholz Holding GmbH. Due to the existing exclusivity agreement, Scholz Holding's management has not been in a position to discuss this development with the Chiho-Tiande Group. Michael Thomas, CRO of Scholz Holding GmbH, comments: "Chiho-Tiande and KKR Credit, two respected businesses, have now publicly announced their desire to invest in the Scholz Group and to facilitate the necessary financial restructuring. Their stated interest is a clear indication of the high attractiveness of the Scholz Group as one of the world's leading recycling companies for steel and non-ferrous metals." Contact details: Frank Elsner Kommunikation für Unternehmen GmbH Frank Elsner Tel.: +49 89 99 24 96 30 E-Mail: office@elsner-kommunikation.de 02.05.2016 The DGAP 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: Scholz Holding GmbH Office Number: 610, 68 King William Street EC4N 7DZ London United Kingdom Phone: 0044 20 7959 2291 Fax: E-mail: infoscholz@scholz-group.com Internet: www.scholz-group.com ISIN: AT0000A0U9J2 WKN: A1MLSS Listed: Open Market in Frankfurt ; Wien (Geregelter Freiverkehr / Second Regulated Market) End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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