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RNS - Daldrup & Sohne AG: Acquisition of 35% of Taufkirchen power plant shareholding from Axpo Power AG

Company: Daldrup & Söhne AG Date: 2018-01-25 Language: English Register to download

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 News Details

Ad-hoc | 25 January 2018 17:00

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Daldrup & Söhne AG: Acquisition of 35% of Taufkirchen power plant shareholding from Axpo Power AG

Daldrup & Söhne AG / Key word(s): Investment  

Daldrup & Söhne AG: Acquisition of 35% of Taufkirchen power plant shareholding from Axpo Power AG  

  

25-Jan-2018 / 17:00 CET/CEST  

Disclosure of an inside information acc. 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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**Publication of insider information pursuant to Article 17 MAR**

**Daldrup & Söhne AG: Acquisition of 35% of Taufkirchen power plant shareholding from Axpo Power AG**

Grünwald / Ascheberg, 25 th January 2018 – Geothermie Taufkirchen GmbH & Co. KG, a company of Geysir Europe GmbH, in which the drilling technology and geothermal energy specialist Daldrup & Söhne AG (ISIN DE0007830572) holds a 75.01 percent stake, has reached an agreement with Axpo Power AG, Baden, Switzerland, under a share purchase agreement to acquire a 35% stake in the project company of the geothermal power plant GeoEnergie Taufkirchen GmbH & Co. KG in Taufkirchen, Germany with retroactive effect from 30 th June 2017.

The agreement consists of several elements with extensive contractual provisions and cancellation rights, which were concluded between 15 th August 2017 and 9 th January 2018. As from today, all requirements and terms of the contractual agreements are fulfilled.

In addition to its own 38.61 percent stake in the project company, the Geysir Europe-Group thus acquires a further 35 percent and then holds a total of 73.61 percent of the shares in the geothermal power plant in Taufkirchen. A further 26.31 percent is still held by Gemeindewerke Oberhaching GmbH and 0.08 percent by BioEnergie Taufkirchen GmbH & Co. KG. The acquisition will result in a full consolidation of the geothermal power plant Taufkirchen in the group financial statement of Daldrup & Söhne AG. As part of the transaction, Geothermie Taufkirchen secured a loan in a lower double-digit million euro range for the financing of the share purchase.

If the Taufkirchen power plant is operated successfully, the management board expects that the geothermal power plant will contribute significantly to the group’s earnings in line with its strategy for the coming years. With the implementation of the acquisition, the Daldrup & Söhne Group now holds a total of 55.21 percent of the geothermal power plant in Taufkirchen, compared to 28.96 percent prior to the acquisition.  

**Disclaimer**  

This publication constitutes neither an offer to sell nor a solicitation of an offer to purchase or subscribe for securities. This publication and the information contained herein is not intended for direct or indirect distribution in or within the United States of America (“USA”), Canada, Australia or Japan.  

  

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Information and Explanation of the Issuer to this News:  

  

  

**Contact**  

Daldrup & Söhne AG  

Falk v. Kriegsheim  

Fon +49 (0)2593-9593-29  

ir@daldrup.eu  

www.daldrup.eu

Bavariafilmplatz 7  

82031 Grünwald/Geiselgasteig

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25-Jan-2018 CET/CEST 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: | Daldrup & Söhne AG |
|     | Bavariafilmplatz 7 / Gb. 32 |
|     | 82031 Grünwald/Geiselgasteig |
|     | Germany |
| Phone: | +49 (0) 89 / 45 24 37 920 |
| Fax: | –   |
| E-mail: | info@daldrup.eu |
| Internet: | www.daldrup.eu |
| ISIN: | DE0007830572 |
| WKN: | 783057 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |

  

|     |     |
| --- | --- |
|     |     |
| End of Announcement | DGAP News Service |

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