DGAP-News: Hess AG: M&A Process well underway
(firmenpresse) - DGAP-News: Hess AG / Key word(s): Restructure of Company/Disposal
Hess AG: M&A Process well underway
12.03.2013 / 15:31
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Hess AG: M&A Process well underway
- Contact to potential investors will be intensified
- Restructuring concept in the implementation
Villingen-Schwenningen, 12th March, 2013. Within the context of the M&A
process, Hess AG started to intensify investor relations as well as pushing
ahead with already ongoing investor discussions. Furthermore, the
restructuring concept is in the process of implementation since last week.
Contact to potential investors will be intensified
Several conversations with interested parties were held over the past few
weeks with further discussions yet to follow. A series of renowned
investors from the strategic environment as well as from the finance sector
have enquired and expressed their interest in Hess in the last few days and
weeks. Ebner Stolz Mönning Bachem Unternehmensberatung GmbH, Stuttgart, was
mandated by the insolvency administrator, Dr Volker Grub, as support in the
context of this selling process and to be in charge of conducting
acquisition talks with suitable and potential strategic as well as
financial investors. Prof Dr Heiko Aurenz and Michael Euchner are the
responsible partner on the part of Ebner Stolz.
'We already now have a multitude of existing interested parties as well as
an eye on additional potential buyers', explains Prof Dr Heiko Aurenz,
Managing Partner at Ebner Stolz. Temporary insolvency administrator Dr
Volker Grub is accordingly optimistic regarding the further development of
the conversations. The objective is to sell the company very soon as a
whole if possible and thus preserve the strengths that characterize Hess
Group.
Every person involved knows that this process needs to be completed as soon
as possible to eliminate the currently existing uncertainty. 'Our clients
and our employees need clarity and security as quickly as possible',
emphasizes Managing Director Andreas R. Budde, 'we therefore work on this
process at high pressure.'
Implementation of the restructuring process has started
To bring Hess Group economically back on an even keel, nearly 50 employees
were given notice last week in the course of the restructuring concept
developed. As the projected growth could not be realized, cost savings are
the logic consequence to position the company for the future. 'We have
checked every cost option', adds Andreas R. Budde. 'Unfortunately we were
forced to significantly adjust personnel costs.' From the perspective of
the company this step became necessary and is without any alternative due
to the expected severe loss for the current financial year.
Further inquiries:
Hess AG
Marco Walz
Investor Relations&Communications
Lantwattenstraße 22
D-78050 Villingen-Schwenningen
Tel.: +49 (0) 7721 920-475
Mail: marco.walz(at)hess.eu
www.hess.eu
End of Corporate News
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12.03.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Hess AG
Lantwattenstraße 22
78050 Villingen-Schwenningen
Germany
Phone: +49 7721 920 0
Fax: +49 7721 920 250
E-mail: hess(at)hess.eu
Internet: www.hess.eu
ISIN: DE000A0N3EJ6
WKN: A0N3EJ
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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203666 12.03.2013
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Datum: 12.03.2013 - 15:31 Uhr
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News-ID 238564
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