Vossloh AG

M&A Activity • Dec 21, 2016

News Details

Ad-hoc | 21 December 2016 17:00

Vossloh Aktiengesellschaft: Vossloh signs contract for the sale of the Electrical Systems business unit to Knorr-Bremse

Vossloh Aktiengesellschaft / Key word(s): Disposal

21-Dec-2016 / 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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Vossloh AG today signed a contract for the sale of the Electrical Systems
business unit, which is presented as discontinued operations, to Knorr-
Bremse Systeme für Schienenfahrzeuge GmbH, a wholly-owned subsidiary of
Knorr-Bremse AG in Munich. In return, Vossloh AG receives a cash selling
price of EUR72.5 million. This includes a variable component of EUR25
million which is subject to future adjustment insofar as a project does not
develop according to Vossloh's current expectations. In addition, the buyer
has committed to replace all guarantees and sureties that Vossloh had
assumed for the Electrical Systems business unit. The economic transfer to
Knorr-Bremse Systeme für Schienenfahrzeuge will take effect retroactively
on July 1, 2016. Vossloh expects a net cash inflow in the middle
double-digit million range when the transaction is completed. The
Supervisory Board of Vossloh AG has already approved the transaction. The
sale is still subject to merger control clearances. Completion of the
transaction is expected for the first quarter 2017.

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Language: English
Company: Vossloh Aktiengesellschaft
Vosslohstr. 4
58791 Werdohl
Germany
Phone: +49 (0)2392 52 - 359
Fax: +49 (0)2392 52 - 219
E-mail: investor.relations@vossloh.com
Internet: www.vossloh.com
ISIN: DE0007667107
WKN: 766710
Indices: SDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange

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