The acquisition of the majority shareholding in Homag Group AG by Dürr Technologies GmbH, a wholly owned subsidiary of Dürr AG, has been completed. On 15th July 2014, Dürr announced that agreements had been reached with various major shareholders for the acquisition of a total interest of 53.7% of the Homag shares. A sum of €228.1m was paid for the acquisition.
Following the necessary approval by the respective anti-trust authorities in Germany and abroad, Dürr has now acquired the majority shareholding in Homag Group AG, effective as of 10th October 2014.
Dr Markus Flik, CEO of Homag Group AG, welcomes the acquisition: “Dürr’s majority shareholding is a milestone in our development as a company – we now belong to a high-performance, machine-building and plant engineering group. Both parties will benefit from the co-operation.”
The voluntary public bid Dürr made to the other Homag shareholders that ended on 7th October 2014 was accepted for 2.1% of the shares. Furthermore, Dürr joined the shareholder pool of the Schuler family and the Klessmann Foundation, which itself holds 22.1%, with 3% of its shares.
The shareholder pool will agree to the planned conclusion of a domination and profit and loss transfer agreement between Dürr and Homag Group AG. Dürr has a total of 77.9% of the voting rights for the purpose of passing such resolutions at the annual general meeting of Homag Group AG.
The Homag Group has been fully consolidated in the Dürr Group as of 1st October 2014.
