Munich (ots) -
- GermanCapital acquires Commerzbank stake in ALNO AG
- Voluntary tender offer to all shareholders, priced at EUR 7.20
- GermanCapital and Hellwig family will combine stakes to hold
over 45 percent of the ALNO shares in joint bidding company
- Strategy aims at sustainable, profitable growth, under
Bidding company Küchen Holding GmbH will combine ALNO stakes of
funds advised by Munich-based investment company GermanCapital and
the Hellwig family to own over 45 percent of ALNO AG. Küchen Holding
GmbH announces a voluntary tender offer to all shareholders priced at
EUR 7.20 per share. The bidding company aims at a simple majority
stake, in order to further develop ALNO"s potential and give the
company sustainable support with a long-term entrepreneurial
Upon foundation of Küchen Holding GmbH by GermanCapital, the
bidding company agreed to acquire 20.6 percent of ALNO from
The strategic investor Whirlpool, holding a 25.6 percent stake in
ALNO, has also welcomed the announcement and will support Küchen
Holding GmbH by granting all voting rights for its stake. "With
GermanCapital, ALNO gains an investor with industry experience that
is well placed to support current management with financing know-how
and capital", said Dr. Marc Bitzer, President of Whirlpool Europe.
"ALNO AG is a well-established company with a first-class brand.
In cooperation with the Hellwig family and the strategic investor
Whirlpool, we support the set restructuring course and the strategy
chosen by current management. As a shareholder, GermanCapital will
support the company's future growth - if required with the necessary
funding", said Dr. Jürgen Diegruber, Partner at GermanCapital.
With sales of EUR 613 million in 2005 and approximately 2.700
employees, ALNO is the second largest kitchen manufacturer worldwide
and market leader in Germany. After successful initial restructuring
steps, the main strategic focus of the company lies in further
efficiency improvements and international expansion.
At EUR 7.20 per share, the offered price comprises a premium of 13
percent on the average price of the preceding six months. "This offer
underlines our long-term confidence in ALNO"s business model and
growth perspective", said Diegruber.
The offering document for the voluntary public tender offer will
be published on www.kuechen-holding.de after authorization by German
regulator Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).
These transactions are conditional, amongst others, upon receipt
of customary regulatory approvals.
GermanCapital is a Munich-based investment company. Together,
GermanCapital partners combine significant experience in investment,
corporate finance, business consultancy and industry. GermanCapital
pursues long-term investments in mainly medium-sized companies
through a variety of financial instruments. The company advises a
fund volume of EUR 150 million.
digital press kits: http://presseportal.de/story.htx?firmaid=61194
press kits via RSS: feed://presseportal.de/rss/pm_61194.rss2
This announcement does not constitute an offer to buy or a
solicitation to sell ALNO AG securities. The terms of the offer and
other representations regarding the offer will be published in the
offering document after authorization of publication by BaFin.
ots Originaltext: German Capital