DGAP-Ad-hoc: Transaction perfected: New Zealand's regulatory authority approves takeover of Turners & Growers by BayWa AG
BayWa AG / Key word(s): Acquisition
06.03.2012 08:37
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.
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Transaction perfected: New Zealand's regulatory authority approves takeover
of Turners & Growers by BayWa AG
The Overseas Investment Office (OIO), New Zealand's regulatory authority
dealing with foreign investment, today approved the majority takeover of
Turners & Growers Ltd (T&G) by BayWa AG. With official approval now
granted, the public takeover tender offer submitted to the shareholders of
T&G by BayWa AG in November 2011 is effective. The German Federal Cartel
Office had already given its approval at a prior date. Compensation for the
sum total of 72.5 percent of the shares in T&G tendered to date comes to
around NZ$ 157 million. Although the tender offer period for the
shareholders still runs until 7 March 2012, majority control of T&G will
pass to BayWa on payment for the shares. The takeover is a ground-breaking
step towards internationalization for BayWa. In the future, BayWa's CEO,
Klaus Josef Lutz, will take over the chair of T&G's Board of Directors.
Additional members of the Board will be Andreas Helber, BayWa's Chief
Financial Officer, Dr. Josef Krapf, BayWa's Board Member responsible for
the Agriculture and Fruit business units, and Dietmar Bahler, head of the
Fruit business unit.
BayWa Aktiengesellschaft, Arabellastraße 4, 81925 München, www.baywa.de
WKN 519406 // ISIN DE0005194062; WKN 519400 //
ISIN DE0005194005
Contact:
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
06.03.2012 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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