DGAP-News: Balda AG / Key word(s): Disposal
Balda AG sells entire operating business, distributions of EUR 2.00
per share, approval by AGM required
23.09.2015 / 13:03
Bad Oeynhausen, 23 September 2015 – Today, Balda AG concluded a purchase
agreement concerning the sales of its entire operating business for a
purchase price of 62.9 million EUR. The buyers are acquiring companies,
which are managed by investment company Paragon, Munich. The sale comprises
all operational units of the Balda Group, i.e. Balda Medical GmbH & Co. KG,
Bad Oeynhausen, Balda C. Brewer, Inc. and Balda Precision, Inc., both in
California, USA, as well as Balda Medical Systems SRL, Romania and further
“Within the scope of our dialog with investors and possible cooperation
partners, we have noticed increasing interest in our operational units.
This resulted in specific negotiations, which, ultimately culminated in the
agreement that was signed today”, says Oliver Oechsle, sole Management
Board member of Balda AG. “The purchase offer by Paragon Partners did not
only exceed the fair value calculated by external experts but will also
give Balda the opportunity to continue to develop as an individual
company”, Oechsle also states.
Paragon Partners is a private and owner-managed investment company, aiming
to sustainably improve the strategic and operating business of its
shareholdings. Paragons founding partner Krischan von Moeller adds: “Under
the successful management team, the Balda Group will continue as an
operational unit in accordance with today’s strategic orientation. We will
support Balda to actively make use of growth opportunities in the areas of
medical technology as well as pharmaceutical and, if needed, may provide
further equity for organic and external growth.”
Oliver Oechsle says: “By selling the operating business of the Balda Group,
we are creating a significant increase in value for the shareholders. But
not only the shareholders will benefit, also our employees and customers.
Paragon Partners has confirmed that it will maintain the current strategic
orientation and organizational structure and that it will retain all
employees of Balda AG as well as the management. This means stability and
continuity. Balda pursues the goal of continuing to further develop over
the next few years – both organically and strategically so as to achieve an
order of magnitude that will offer us completely new courses of action.
Balda stays Balda!”
All in all, the company receives a gross amount (including profits to be
paid out for the past business year) of EUR 66.7 million (before
exemptions, taxes and costs) from the sale.
The agreement is subject to the condition precedent of approval by the
annual general meeting of Balda AG as well as the approval by the
anti-trust authorities. The Management Board will shortly send out
invitations for the annual general meeting scheduled for 19 November 2015.
Moreover, the Management Board and the Supervisory Board intend to suggest
a dividend payment of EUR 1.10 per share. Also, on approval of the purchase
agreement the Management Board and the Supervisory Board plan to reduce the
share capital from currently EUR 58,890,636.00 to EUR 5,889,063.00 and to
pay back to the shareholders the share capital thus released. This
corresponds to an amount of another EUR 0.90 per current share.
Additionally, the Supervisory Board will device a new business model for
the AG and present it to the annual general meeting. In this context, the
annual general meeting shall also adopt a decision concerning a change of
the business purpose of the company and the company name.
contact / contact person
Deekeling Arndt Advisors
Tel: +49 (0) 5734 922 2555
Mobil: +49 (0) 160 90560506
Balda (ISIN: DE0005215107) is a provider of high-end plastics solutions
that rely on quality in sophisticated fields of application in the
healthcare, lifestyle, automotive and consumer electronics industry. Balda
operates in Europe and Northern America and has state of the art production
sites at the Oeynhausen headquarters in Germany and in the US. The
company’s success with its about 780 staff worldwide is based on the use of
modern, cost-efficient technologies and the close cooperation with our
customers in a spirit of trust.
23.09.2015 Dissemination of a Corporate News, transmitted by DGAP – a
service of EQS Group AG.
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Company: Balda AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Phone: +49 (0) 57 34 / 9 22-0
Fax: +49 (0) 57 34 / 9 22-2604
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
End of News DGAP News Service