M&A Activity • Mar 22, 2013
M&A Activity
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Vienna, 22 March 2013 – As announced by Vienna Stock Exchange listed Frauenthal Holding AG on 25 February, the Group's Executive Board opened talks on the acquisition of Gnotec AB, a Swedish manufacturer of metal components for automotive and other industrial customers.
Frauenthal Automotive Holding GmbH (Austria) and Gnosjögruppen AB (Sweden) today agreed terms for the former's acquisition of a 100% interest in Gnotec AB (Sweden). The purchase price was settled at about EUR 25 million with an earn out amount of about EUR 7 million during 2013 and 2014.
Once the contract has been concluded, the acquisition will be completed in accordance with standard industry conditions precedent, in particular with regard to clearance by the competition authorities concerned. Completion of the transaction is expected in the second quarter of 2013.
Gnotec AB has sites in Sweden and Slovakia. The company posted revenue of almost EUR 80 million in 2012. The acquisition represents a logical addition to the Frauenthal Automotive Division's product portfolio, and will extend the company's presence on the Swedish automotive component market.
Contact:
Frauenthal Holding AG, Rooseveltplatz 10, 1090 Vienna, Austria. Martin Sailer, [email protected] Erika Hochrieser, [email protected]
Tel. +43 (0)1 5054206; fax + 43 (0)1 505420633; www.frauenthal.at
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