Rheinmetall AG — M&A Activity 2004

Feb 12, 2004

News Details

Ad-hoc | 12 February 2004 11:11

Rheinmetall AG: Hirschmann sold to HgCapital

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Hirschmann sold to HgCapital – Rheinmetall successfully completed divestment of its electronics sector Düsseldorf-based Rheinmetall AG has sold Hirschmann Electronics GmbH & Co. KG, Neckartenzlingen, to leading European private equity investor, HgCapital, as of December 31, 2003. The transaction, which is subject to approval from the relevant cartel authorities is in the form of an MBO by Hirschmann Electronics management. The price paid including the takeover of liabilities is EUR 115 million. Following the November 1, 2003 sale of the Preh Group, Bad Neustadt, to Deutsche Beteiligungs AG, the Hirschmann transfer is the final step in the divestment of Rheinmetall’s electronics group, allowing it to focus on its core businesses: Automotive (Kolbenschmidt Pierburg) and Defence (Rheinmetall DeTec). In fiscal 2003, the Hirschmann Group, which employs a workforce of around 1,750, generated sales of over EUR 280 million. An electronics specialist, Hirschmann is an internationally successful player in the markets for car communication systems, multimedia electronics, automation & network solutions, and electronic control systems for construction machinery. HgCapital, which has offices in London and Frankfurt, has now completed four acquisitions within the German market during the last fourteen months, all within the automotive industry. HgCapital focuses on companies with enterprise values ranging from EUR 40 million to EUR 400 million and specialises in the following industry sectors: industrials, media, consumer, healthcare, technology and leisure. end of ad-hoc-announcement (c)DGAP 12.02.2004 ——————————————————————————– WKN: 703000; ISIN: DE0007030009; Index: MDAX Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard) und Hamburg; Geregelter Markt in München und Stuttgart 121111 Feb 04