DGAP-News: Haniel expedites debt reduction measures
(firmenpresse) - DGAP-News: Franz Haniel&Cie. GmbH / Key word(s): Transaction in Own
Shares/Strategic Company Decision
Haniel expedites debt reduction measures
27.11.2012 / 17:40
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Press Release
Haniel expedites debt reduction measures
- Reduction of Celesio interest to 50.01% by way of accelerated
bookbuilding
- Reduction of Metro interest to 30.01% planned within 18 months
- Celesio AG and Metro AG remain core investments in portfolio
- Sale of non-strategic assets within 12 months
- Net debt to drop significantly below EUR 2 billion
Duisburg, 27 November 2012. The Management and Supervisory Boards of Franz
Haniel&Cie. GmbH have resolved a comprehensive package of measures to
reduce the debt position. In a first step, the company's ownership interest
in Celesio AG will be reduced. Around 7.9 million shares are to be placed
in the short-term by way of an accelerated bookbuilding to institutional
investors. Furthermore, the Supervisory Board approved the sale of roughly
4.24% of Metro shares within the next 18 months which represents a total
volume of about 13.7 million shares. The ownership interest in both
companies will fall from 54.64% to 50.01% (Celesio AG) and from 34.24% to
30.01% (Metro AG) respectively.
'This is a decisive step for Haniel on its way to significantly reducing
our net debt position at holding level as previously announced,' said
Haniel CEO Stephan Gemkow. 'Given the currently stable market environment
and the attractiveness of the company we are confident to place the Celesio
shares well on the market.'
The position in Metro AG will also be adjusted within the next 18 months.
Following the reduction of the stake to 30%, Haniel will remain the largest
shareholder.
With the adjustment of the respective stakes, Haniel continues to maintain
significant strategic influence at both companies and will continue to
pursue its interests in a constructive way. 'We are convinced of the
sustainable value potential of Metro and Celesio. Therefore, both remain
long term core investments in the Haniel portfolio,' said Gemkow. 'Haniel's
other business segments CWS-boco, ELG and TAKKT are not part of the adopted
package of measures.'
Additional proceeds of about 150 million Euros are to be generated from the
sale of non-strategic assets. In the foreseeable future the net debt
position should drop well below EUR 2 billion. With this package of
measures, Haniel is taking decisive action to reduce debt at holding level
and to improve its portfolio balance. This will provide a solid platform
for further growth and value generation at the Haniel Group.
Celesio shares will be offered to international institutional investors.
The placement is managed by Deutsche Bank AG. Haniel has agreed a lock-up
period. In the next six months, the company will not engage in any further
stake sales or transactions which could lead to a further reduction in its
Celesio holding.
The Haniel Group
Haniel is an internationally successful, family-owned group of companies.
In 2011, its around 58,000 employees generated sales of 27.3 billion euros
in more than 30 countries. The Holding Company regards itself as a creator
of value. It shapes the portfolio, controls the Group's strategy, and
defines the guidelines for Group-wide human resources management.
Responsibility for the operating business rests with the five divisions,
all of which occupy market-leading positions. Haniel distinguishes between
wholly-owned investments (CWS-boco and ELG), majority investments (Celesio
and TAKKT) and minority investments (METRO GROUP). In outline, the
divisions are CWS-boco, which ranks among the leading international vendors
of washroom hygiene products, dust control mats and textile services; ELG,
a global market-leading company in the trading and processing of raw
materials for the stainless steel industry; TAKKT, which is the leading B2B
specialist mail order company for business equipment in Europe and North
America; Celesio, one of the leading international service providers in the
pharma and healthcare sectors; and METRO GROUP, the most international
retailing company in the world.
You can find more information about the Haniel Group at www.haniel.com.
This document does not constitute an offer to sell securities, or a
solicitation of an offer to buy securities, in the United States of America
or in any other jurisdiction to any person to whom it is unlawful to make
such offer or solicitation in such jurisdiction. Securities may not be
offered or sold in the United States of America absent registration or an
exemption from registration under the U.S. Securities Act of 1933, as
amended (the 'Securities Act'). The securities of Celesio AG described
herein have not been and will not be registered under the Securities Act,
or the laws of any State, and may not be offered or sold within the United
States, except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and
applicable State laws. Celesio AG does not intend to register any portion
of the offering in the United States or conduct a public offering of
securities in the United States.
This document does not constitute a public offer in any member state of the
European Economic Area. The securities of Celesio AG will be offered and
sold exclusively in a manner that allows for a placement without a
prospectus or similar offering document; in particular, in member states of
the European Economic Area in which Directive 2003/71/EC of the European
Parliament and the Council of 4 November 2003, as amended as of 24 November
2010 (the 'Prospectus Directive'), is applicable, the securities will be
offered or sold exclusively to qualified investors within the meaning of
Article 2(1)(e) of the Prospectus Directive that act for their own account
or for the account of other such qualified investors. In the United
Kingdom, this document is only being distributed to, and is only directed
at, and any investment or investment activity to which this announcement
relates is available only to, and will be engaged in only with, qualified
investors who are (i) investment professionals falling with Article 19(5)
of the UK Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 (the 'Order') or (ii) high net worth entities falling within
Article 49(2)(a) to (d) of the Order (all such persons together being
referred to as 'relevant persons'). Persons who are not relevant persons
should not take any action on the basis of this announcement and should not
act or rely on it.
Contact:
Dietmar Bochert
Head of Corporate Communications&Spokesperson
Tel.: +49 203 806-578
E-Mail: DBochert(at)haniel.de
End of Corporate News
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Language: English
Company: Franz Haniel&Cie. GmbH
Franz-Haniel-Platz 1
47119 Duisburg
Germany
Phone: +49 (0)203 806 578
Fax: +49 (0)203 806 80 578
E-mail: dbochert(at)haniel.de
Internet: www.haniel.de
ISIN: XS0482703286, XS0459131636
WKN: 601960, A1A6NE
Listed: Regulierter Markt in Hannover; Freiverkehr in Berlin,
Düsseldorf, Hamburg, Stuttgart; Open Market in Frankfurt
End of News DGAP News-Service
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194871 27.11.2012
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Datum: 27.11.2012 - 17:40 Uhr
Sprache: Deutsch
News-ID 207259
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