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Aurubis AG
Legal Proceedings Report • Oct 10, 2018
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Legal Proceedings Report
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Ad-hoc | 10 October 2018 14:16
Aurubis AG: European Commission expresses concerns in the merger-control proceedings regarding the sale of the segment Flat Rolled Products
Aurubis AG / Key word(s): Disposal
Aurubis AG: European Commission expresses concerns in the merger-control proceedings regarding the sale of the segment Flat Rolled Products
10-Oct-2018 / 14:16 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Aurubis AG: European Commission expresses concerns in the merger-control proceedings regarding the sale of the segment Flat Rolled Products
In the course of merger control proceedings regarding the sale of the segment Flat Rolled Products of Aurubis AG (Aurubis) to Wieland Werke AG (Wieland), the European Commission informed Aurubis and Wieland that clearance of the transaction can probably not be achieved with the proposed remedies.
Based on its preliminary assessment, the European Commission, in order to clear the transaction, would currently ask for further remedies that Wieland is not obliged to offer under the agreed Sale and Purchase Agreement. Therefore, in Aurubis’ view, at this stage, execution of the transaction is not any longer more likely than not.
The Parties agreed that Wieland will continue the merger control proceedings in order to still achieve clearance of the transaction, in particular, based on a revised competitive assessment by the European Commission. Although Aurubis fully supports this approach, the Executive Board has identified strategic alternatives to the transaction as part of a contingency planning.
Contact:
Dr. Björn Carsten Frenzel
Leiter Konzernrechtsabteilung
E-Mail: [email protected]
Tel: +49 40 78 83 30 44
10-Oct-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Aurubis AG |
| Hovestrasse 50 | |
| 20539 Hamburg | |
| Germany | |
| Phone: | +49 (0)40 / 78 83 – 31 78 |
| Fax: | +49 (0)40 / 78 83 – 31 30 |
| E-mail: | [email protected] |
| Internet: | www.aurubis.com |
| ISIN: | DE0006766504 |
| WKN: | 676650 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| End of Announcement | DGAP News Service |