DGAP-Ad-hoc: BayWa to expand its international reach and acquires New Zealand's market leader for fruit
BayWa AG / Key word(s): Acquisition
09.11.2011 22:22
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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BayWa to expand its international reach and acquires New Zealand's market
leader for fruit
Munich-based BayWa AG is entering the international fruit trading business
in New Zealand and intends to take over 63 percent of Turner & Growers Ltd.
(T&G) from its major shareholder London-bases Guiness Peat Group Plc (GPG).
This would make BayWa one of the world's most important suppliers of pip
fruit. The international trading group has already agreed the purchase of
63 percent of the issued shares in T&G held by the main shareholder GPG. As
required by New Zealand takeover regulations, the acquisition will be made
as part of a takeover offer to acquire up to 100% of the issued share
capital of T&G at a price of NZ$ 1.85 per share. The purchase price range
will be between NZ$ 137 million and NZ$ 216 million (EUR 79 million and EUR
125 million), depending on the level of acceptances by T&G shareholders.
The transaction is conditional on approval from the German Federal Cartel
Office and the New Zealand Overseas Investment Office.
This takeover is an important step for BayWa in its international growth
strategy and will strengthen its Agriculture Segment's very successful
Fruit Business Unit. T&G will allow BayWa to access global growth markets,
particularly Asia. This enables BayWa to ensure an uninterrupted supply for
German retailers throughout the whole year.
T&G Limited (T&G) was founded in 1897 and is a fruit trader with
international operations.
T&G is New Zealand's market leader in the export and domestic distribution
of dessert fruit. The company is listed on the New Zealand Stock Exchange
and employs a workforce of around 1,400 employees within the group. T&G
generated annual revenues of EUR 346 million in 2010.
BayWa Aktiengesellschaft, Arabellastraße 4, D - 81925 Munich, www.baywa.de
WKN 519406 // ISIN DE0005194062; WKN 519400 //
ISIN DE0005194005
Contact:
Marion Danneboom, BayWa AG, Head of PR/Corporate Communication,
tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98,
e-mail: marion.danneboom@baywa.de
09.11.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: BayWa AG
Arabellastraße 4
81925 München
Germany
Phone: 089/ 9222-3691
Fax: 089/ 9222-3698
E-mail: marion.danneboom@baywa.de
Internet: www.baywa.de
ISIN: DE0005194062, DE0005194005,
WKN: 519406, 519400,
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart
End of Announcement DGAP News-Service
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