DGAP-Ad-hoc: HORNBACH Holding AG & Co. KGaA / Key word(s): Agreement
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY OTHER JURISDICTION WHERE TO DO SO WOULD VIOLATE THE LAWS OF SUCH JURISDICTION
Conclusion of a delisting agreement and unconditional tender offer to the shareholders of HORNBACH Baumarkt AG
HORNBACH Holding currently holds 24,285,062 shares of HORNBACH Baumarkt AG corresponding to approximately 76.4% of its share capital. In the delisting agreement, HORNBACH Holding, inter alia, undertook to offer to the remaining shareholders of HORNBACH Baumarkt AG to acquire their shares against a cash consideration in the amount of € 47.50 per share of HORNBACH Baumarkt AG. This corresponds to a premium on the XETRA closing price of the HORNBACH Baumarkt AG share on December 17, 2021 of € 5.75 or 13.8%.
HORNBACH Baumarkt AG has undertaken - subject to the customary reservations - to submit an application for the revocation of the admission of the shares of HORNBACH Baumarkt AG to trading on the regulated market of the Frankfurt Stock Exchange during the acceptance period for the delisting tender offer and to support the delisting tender offer.
The Company expects that the offer document for the delisting tender offer can be published at the latest by the end of January 2022 after the necessary approval by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) and can be completed at the latest by the beginning of March 2022.
The delisting of the shares of HORNBACH Baumarkt AG is intended to simplify the capital market presence of the HORNBACH Holding Group and eliminate inefficiencies of the existing structure.
The financing of the delisting tender offer is fully secured by a short-term credit facility, which will be replaced by a balanced long-term financing structure of debt and/or equity instruments. This is in line with the Group's strategy to reflect an S&P rating of BB+ (lower limit) or better.
Further information on the intended delisting tender offer and delisting has been or will be published on the Internet at www.pluto-offer.com.
The offer document for the delisting tender offer (in German and as a non-binding English language translation), which contains the detailed provisions of the delisting tender offer, will also be published on the internet at www.pluto-offer.com, after its publication has been approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin), together with further related information.
Head of Group Communications and Investor Relations
HORNBACH Holding AG & Co. KGaA
Phone +49 (0) 6348 602444
Managerin Investor Relations
HORNBACH Holding AG & Co. KGaA
Phone+49 (0) 6348 604558
20-Dec-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||HORNBACH Holding AG & Co. KGaA|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1260011|
|End of Announcement||DGAP News Service|
1260011 20-Dec-2021 CET/CEST