19.06.2016,
3164 Zeichen
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
Mergers - Acquisitions - Takeovers
19.06.2016
+++ This press release does not constitute an offer for the acquisition of
shares in TTS Group ASA but is merely designed to inform the public about the
state of a potential acquisition project by PALFINGER AG. An outline of this
Transaction will be disclosed today on the websites of TTS Group ASA and
PALFINGER AG in accordance with the Norwegian Stock Exchange Act. +++
PALFINGER is offering NOK 5.60 in cash for one TTS share in the event of a positive due diligence outcome\n100 per cent acquisition planned\nBoard of Directors of TTS recommends acceptance of the intended offer\nClosing of transaction possible in three to six months\nMarine business would become the PALFINGER Group's strong second mainstay\nBergheim/Bergen, 19 June 2016
PALFINGER AG, a company listed on the Vienna Stock Exchange and headquartered
in Bergheim/Salzburg, intends to make a takeover bid, via its subsidiary
Palfinger Marine GmbH, Salzburg, for all of the shares in Norwegian
Bergen-headquartered TTS Group ASA. For every share traded on the Oslo Stock
Exchange, a cash amount of NOK 5.60 would be offered. Subject to a positive
outcome of the due diligence audit, the offer would be made in agreement with
the Board of Directors of TTS, and TTS would recommend its shareholders to
accept the offer.
Subject to the positive outcome of the due diligence audit and the official
approvals, the intended acquisition is expected to be finalized in the fourth
quarter of this year, but latest in January 2017. The offer, which will be made
in accordance with the Norwegian Securities Trading Act, also has the support
of approx. 67 per cent of the shareholders, among them TTS's largest
shareholder group, the Skeie family, which holds approx. 32 per cent of the
shares. The offer will become effective subject to the approval of 90 per cent
of the shareholders. The formal offer document should be disclosed within four
weeks from now. The offer period will end four weeks after disclosure.
The TTS Group, headquartered in Bergen, has global operations with a focus on
the design, development and supply of equipment solutions and services for the
marine and offshore oil and gas industries.
+++ This press release does not constitute an offer for the acquisition of
shares in TTS Group ASA but is merely designed to inform the public about the
state of a potential acquisition project by PALFINGER AG. An outline of this
Transaction will be disclosed today on the websites of TTS Group ASA and
PALFINGER AG in accordance with the Norwegian Stock Exchange Act. +++
end of announcement euro adhoc
issuer: Palfinger AG
Lamprechtshausener Bundesstraße 8
A-5020 Salzburg
phone: 0662/2281-81101
FAX: 0662/2281-81070
mail: ir@palfinger.com
WWW: www.palfinger.ag
sector: Machine Manufacturing
ISIN: AT0000758305
indexes: Prime Market
stockmarkets: official market: Wien
language: English
Digital press kit:
http://www.ots.at/pressemappe/1659/aom
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Palfinger
Akt. Indikation: 23.10 / 23.25
Uhrzeit: 13:36:54
Veränderung zu letztem SK: 0.76%
Letzter SK: 23.00 ( -0.86%)
Bildnachweis
1.
Palfinger mit neuerlichem Umsatz- und Ergebnisrekord, Seite 1/2, komplettes Dokument unter http://boerse-social.com/static/uploads/file_956_palfinger_mit_neuerlichem_umsatz-_und_ergebnisrekord.pdf
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