DGAP-Ad-hoc: BayWa AG acquires stake in a South African joint venture company
BayWa AG / Key word(s): Joint Venture
17.11.2016 15:21
Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Disclosure of an Inside Information According to Article 17 MAR
BayWa AG acquires stake in a South African joint venture company
BayWa AG, Munich, has signed agreements for the setting up of a joint
venture with Barloworld South Africa Proprietary Limited, headquartered in
Sandton (Johannesburg), South Africa ("Barloworld South Africa") today on
November 17, 2016. The objective of the aforementioned joint venture is the
distribution of agricultural and materials handling equipment.
In the context of the setting up of the joint venture Barloworld South
Africa will contribute its existing business in the area of agricultural
and materials handling equipment to a South African company, the shares of
which are held by the South African joint venture company K216275655 (South
Africa) Proprietary Limited (in the future: BHBW Holdings Proprietary
Limited). BayWa AG acquires a 50% stake in the aforementioned joint venture
company.
The closing of the transaction is subject to clearances under antitrust
laws as well as further customary closing conditions. The purchase price
payable by BayWa AG for the 50% stake in the joint venture company is just
below EUR 20 million. Each of BayWa AG and Barloworld South Africa will
issue guarantees in a single-digit million euro amount to secure bank loans
to be provided to the joint venture company.
For BayWa AG, the stake in the South African joint venture company
constitutes an important further step forward in its international growth
strategy in the area of agricultural machinery. By setting up the joint
venture, BayWa AG does not only gain access to the South African market,
but also to important further markets in the sub-Saharan region. The joint
venture is the second project between a company of the Barloworld group and
BayWa AG. A joint venture (50:50) in Zambia was already established between
the two enterprises in 2015.
BayWa AG
Board of Management
BayWa Aktiengesellschaft, Arabellastrasse 4, 81925 Munich, www.baywa.de
WKN 519406 // ISIN DE0005194062; WKN 519400 // ISIN DE0005194005
Contact:
Marion Danneboom, BayWa AG, Head of PR/Corporate Communications,
tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98,
e-mail: marion.danneboom@baywa.de
17.11.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at 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: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
Hanover, Stuttgart, Tradegate Exchange
End of Announcement DGAP News-Service
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