KAP AG

M&A Activity • May 24, 2018

News Details

Media | 24 May 2018 12:37

KAP Beteiligungs-AG: PORTFOLIO OPTIMISATION CONTINUES

DGAP-Media / 24.05.2018 / 12:37

KAP’S SHAREHOLDING IN GEIGER FERTIGUNGSTECHNOLOGIE GMBH SOLD TO STRATEGIC INVESTOR FROM CHINA

Fulda, 23. May 2018 – KAP Beteiligungs-AG, Fulda, Germany, (KAP) successfully continues its path towards strategic realignment. KAP has reached an agreement with Zhejiang Tieliu Clutch Co., Ltd., headquartered in Hangzhou, China, regarding the disposal of all its shares in Geiger Fertigungstechnologie GmbH (Geiger), based in Pretzfeld, Germany. The purchase price corresponds to the enterprise value of EUR38 million for 100% of Geiger’s shares, adjusting for net financial debt at the time of closing. In this context, all KAP’s existing liabilities, in particular the shareholder loan, will be transferred to the new investor. The transaction is subject to approvals by various regulatory authorities.

Over the last 17 years, KAP and Geiger have been working closely together and they now look back at a successful joint development [of the business] over these past few years. Geiger is a recognised partner and preferred supplier of the most important companies in the metalworking industry and has more than 50 years of experience in the production of highly complex turning and milling parts, including other supporting work processes. Geiger has over 300 employees and generated total revenues in excess of EUR50 million in 2017, reflecting a significant sales growth compared to the previous year.

CEO Guido Decker said: “KAP is confident that, together with its new strategic partner from China, Geiger is set and ready for a successful future.”

Fulda, May 23, 2018,

KAP Beteiligungs-AG

Guido Decker                                               Dr. Alexander Riedel

CEO                                                               CFO

End of Media Release

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Issuer: KAP Beteiligungs-AG

Key word(s): Enterprise

24.05.2018 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG.

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Language:	English
Company:	KAP Beteiligungs-AG
	Edelzeller Straße 44
	36043 Fulda
	Germany
Phone:	06611030
Fax:	0661103830
E-mail:	office@kap.de
Internet:	www.kap.de
ISIN:	DE0006208408
WKN:	620840
Listed:	Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart

End of News	DGAP Media