Arbitrators' decision enables Danfoss to redeem Vacon shares
(Thomson Reuters ONE) -
Vacon Plc, Stock Exchange Release, 15 May 2015 at 3.30 p.m. (EET)
Vacon Plc ("Vacon") today received the following information from Oy Danfoss Ab
("Danfoss").
On 15 May 2015, the arbitral tribunal appointed by the Redemption Committee of
the Central Chamber of Commerce has confirmed that Danfoss has the right to
redeem the minority shares in Vacon and that Danfoss has the right to obtain
ownership of the minority shares by providing a collateral approved by the
arbitral tribunal for the payment of the redemption price and interest accrued.
VACON PLC
Further information:
* Vesa Laisi, President and CEO, Vacon Plc, phone +358 (0)40 8371 510,
vesa.laisi(at)vacon.com
* Sebastian Linko, Director, Corporate Communications and Investor Relations,
+358 (0)40 8371 634, sebastian.linko(at)vacon.com
Vacon in brief
Vacon is driven by a passion to develop, manufacture and sell the best AC drives
and inverters in the world - and provide customers with efficient product
lifecycle services. Our AC drives offer optimum process control and energy
efficiency for electric motors. Vacon inverters play a key role when energy is
produced from renewable sources. Vacon has production and R&D facilities in
Europe, Asia and North America, and sales offices in 32 countries. Further,
Vacon has sales representatives and service partners in nearly 90 countries. In
2014, Vacon's revenues amounted to EUR 409.4 million, and the company employed
globally approximately 1,600 people. The shares of Vacon Plc (VAC1V) are quoted
on the main list of the Helsinki stock exchange (NASDAQ OMX Helsinki). Vacon is
part of Danfoss Group.
Driven by Drives, www.vacon.com
Distribution:
NASDAQ OMX Helsinki
Financial Supervisory Authority
Main media
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Vacon Oyj via GlobeNewswire
[HUG#1921866]
Unternehmensinformation / Kurzprofil:
Datum: 15.05.2015 - 14:30 Uhr
Sprache: Deutsch
News-ID 393653
Anzahl Zeichen: 2554
contact information:
Town:
Vaasa
Kategorie:
Business News
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"Arbitrators' decision enables Danfoss to redeem Vacon shares"
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