Klöckner & Co's free float now about 55 per cent
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Duisburg, October 24, 2006 - The free float of the international distribution company Klöckner & Co AG has increased from 35 per cent to a new level of around 55 per cent. The private equity investor Lindsay Goldberg & Bessemer (LGB), until now the majority shareholder in Klöckner & Co, today announced the release of some 20 per cent of its 65 per cent shareholding in the company. This brings the free float up to approximately the level aimed for in the course of the IPO.
"We welcome this substantial increase of our free float; this makes us an interesting candidate for admission into the MDAX of the Frankfurt Stock Exchange," said the Chairman of the Board of Management, Dr. Thomas Ludwig. Klöckner & Co AG was already admitted into the SDAX index of the Frankfurt Stock Exchange two months after its IPO on June 28, 2006.
About Klöckner & Co:
Klöckner & Co is the largest producer-independent steel and metal distributor in the European and North American markets combined. The core business of the Klöckner & Co group is the storage and distribution of steel and non-ferrous metals. About 200,000 active customers are supplied through approximately 240 distribution locations in 14 countries in Europe and North America. Klöckner & Co was founded 100 years ago by Peter Klöckner. During the financial year 2005, the company achieved sales of approximately EUR5 billion with around 10,000 employees. The shares of Klöckner & Co Aktiengesellschaft are admitted to trading on the official market segment (Amtlicher Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with simultaneous admission to the sub-segment (Prime Standard) to the official market with further post-admission obligations. ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.
Contacts: Peter Ringsleben, Claudia Uhlendorf - Corporate Communications
Klöckner & Co AG Am Silberpalais 1 D - 47057 Duisburg
end of announcement euro adhoc 24.10.2006 14:09:43
Further inquiry note:
Peter Ringsleben
Phone: +49 203 307 2800
Fax: +49 203 307 5060
e-mail: peter.ringsleben@kloeckner.de
Claudia Uhlendorf
Phone: +49 203 307 2289
Fax: +49 203 307 5103
e-mail: claudia.uhlendorf@kloeckner.de
Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: CDAX, Classic All Share, Prime All Share, SDAX
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
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