Bechtle AG — M&A Activity 2003

Mar 25, 2003

News Details

Ad-hoc | 25 March 2003 09:27

Bechtle AG english

Bechtle acquires a majority stake in PSB AG, Ober-Mörlen Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Bechtle acquires a majority stake in PSB AG, Ober-Mörlen Own shares will be offered for sale on the stock-exchange Gaildorf, 25.03.2003. Bechtle AG (“Bechtle”) today acquired a majority shareholding in the publicly-quoted PSB Aktiengesellschaft für Programmierung und Systemberatung (“PSB”) with registered office in Ober-Mörlen (ISIN DE0006967607), and thus acquired control over the activities of PSB. Bechtle’s intention, as part of a compulsory offer in compliance with the WpÜG (German Securities Acquisition and Takeover Act – TOA), is to offer the shareholders of PSB 6.40 euros in cash for each PSB share. This is corresponding with a premium of 20 percent in reference to the share price of the last three month. The Management Board and Supervisory Board of PSB have expressed their approval of the transaction. The German Competition Authority (Bundeskartellamt) has given its approval for the completion of the merger. PSB is one of the largest manufacturer-independent system houses in Germany. In 2002, with a workforce of 488 (previous year 498), the company generated sales of 150 million euros (2001: 136 million euros) and an EBIT of 3 million euros (previous year 2 million). It has ten company locations and operates a widespread service network. The Bechtle Group currently employs a total of around 2,250 people; as a result of the majority shareholding in PSB AG, this number will increase to just under 2,750. Bechtle is financing the takeover of PSB with its own funds. To part finance the acquisition, 698,149 of the company’s own shares, which were authorised for sale by the Shareholders’ Meeting of Bechtle AG held on 10.06.2002, will be offered for sale on the stock exchange immediately. More details will be announced at the balance sheet press conference of Bechtle AG today at 10 a.m. in Stuttgart, and this coming Thursday, 27 March, at a DVFA analysts’ conference in Frankfurt. Contact: ir@bechtle.com, Tel: +49(0)7971/950224, http://www.bechtle.com. end of ad-hoc-announcement (c)DGAP 25.03.2003 ——————————————————————————– WKN: 515870; ISIN: DE0005158703; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 250927 Mär 03