- OEP acquires 65.79 % of the shares in Constantia Packaging AG from the Dutch holding company Constantia Packaging B.V. and offers EUR 38.67 per share to outstanding shareholders
- Constantia Packaging B.V. retains a 25 % share in Constantia Packaging AG
One of OEP's (One Equity Partners) affiliates, Sulipo Beteiligungsverwaltungs GmbH, a civil-law partnership, reached an agreement with Constantia Packaging B.V., owned by the Herbert-Turnauer Foundation, on the purchase of 65.79 percent of the shares in Constantia Packaging AG. Under that agreement, OEP will become majority shareholder and submit a voluntary take-over bid to all independent shareholders with the objective to acquire up to 75 percent of the shares. Constantia Packaging B.V. retains a 25-percent share in Constantia Packaging AG.
Subject to the offer documentation being approved by the Austrian regulatory authorities, OEP's acquisition of the share majority is accompanied, pursuant to the Austrian Takeover Act, by a voluntary takeover bid of EUR 38.67 per share to all of Constantia Packaging AG's independent shareholders.
OEP is financing the acquisition of a majority of shares held by Constantia Packaging B.V. exclusively from own funds, i.e., without borrowing any funds. The transaction is subject to a final agreement between the parties involved in the so-called "general settlement" concerning Constantia Privatbank / Immofinanz and Immoeast.
"Our goal is to sustainably support Duropack, Constantia Flexibles and AMAG, three economically sound, independent Austrian companies under the umbrella of Constantia Packaging AG, in further exploring their international growth potential and thereby create a perspective for employees and management as well as the added value for our commitment," said an OEP spokesperson. "In doing so, the previous majority shareholder retaining a share is important to us as a positive signal to the Group's affiliates and employees. We thus expressly count on the continuity of the Group's previous values: decentralized entrepreneurship, focus on premium and core markets as well as growth by selected acquisition and successful integration".
"Today's agreement between OEP and Constantia Packaging B.V. laid a stable foundation for the future pursuit of the demonstrably successful course of growth Constantia Packaging AG has been pursuing over the past few years," says a spokesperson of Constantia B.V.. "With OEP, we were able to win over the international partner the Group preferred due to the continuation model We are particularly pleased that, in future, the previous majority shareholder, Constantia B.V., and the individuals standing behind, it will stay with the Group as second major shareholder. We thus offer our customers, our suppliers, our partners and our employees the continuity, stable shareholder structure and financial power necessary for continued and profitable growth."
One Equity Partners (OEP) is an international investment company focussing its transactions on the opportunities of industrial consolidation. OEP enters into long-term partnerships with corporate groups as well as with medium-sized companies in order to achieve appreciation through strategic developments. Established in 2001, OEP manages fund assets of approx. USD 8 billion exclusively for JPMorgan Chase & Co. OEP operates its European investment business from Frankfurt with a team of 10 management and investment experts and has successfully accompanied the growth of numerous European companies over the past few years.
OEP presently is, among others, majority shareholder of the German Süd-Chemie AG, core shareholder of the MDAX company, Pfleiderer AG, and majority shareholder of Carlson Wagonlit Travel and the Schoeller Arca Group in the Netherlands.
The Constantia Packaging Group operates in the "aluminium", "corrugated board" and "flexible packaging" sectors. Approximately 7,600 employees in 20 European, Asian and American countries produce raw aluminium, semi-finished aluminium products as well as aluminium, plastic and corrugated board packaging for the food, drinks, pharmaceuticals, automotive and aviation industries. In 2008, the Group achieved a sales turnover of € 2.1 billion.
Source: http://www.natermann.de
Comments
Post a Comment