Wavin NV: Wavin grants Mexichem due diligence access
(Thomson Reuters ONE) -
Zwolle, 23 December 2011 - Wavin N.V. hereby announces that, while no agreement
has been reached on the financial terms of a potential offer by Mexichem, good
progress has been made on the non-financial terms and Wavin will grant Mexichem
access to due diligence information.
Current status
Following recent discussions between Wavin and Mexichem, good progress has been
made on the non-financial terms of a possible offer and Mexichem has increased
its offer price to EUR 10.00 per share. The Management Board and the Supervisory
Board of Wavin have, after careful consideration and taking into account the
progress on key non-financial terms, concluded that the current offer price of
EUR 10.00 is at a level to grant Mexichem access to due diligence information.
Wavin and Mexichem intend to continue discussions on the terms of a potential
offer by Mexichem, however, at this stage no assurance can be given that these
discussions will result in a transaction and whether or not the Wavin Boards
will come to a recommendation of an offer by Mexichem.
Next steps
Wavin will grant Mexichem access to a confirmatory due diligence investigation.
It is expected that Mexichem will commence its due diligence investigation in
the second week of January 2012.
Further announcements will be made if and when appropriate.
This is an announcement in accordance with Section 5:25i paragraph 2 of the
Dutch Financial Supervision Act (Wet op het financieel toezicht).
About Wavin
Wavin is the leading supplier of plastic pipe systems and solutions in Europe.
The company provides essentials: plastic pipe systems and solutions for tap
water, surface heating and cooling, soil and waste, rain- and storm water,
distribution of drinking water and gas and telecom applications. Wavin is
headquartered in Zwolle (The Netherlands) and has a presence in 26 European
countries, with manufacturing sites in 18 of those and one in China. The company
employs approximately 6,400 people and reported revenue of more than EUR 1.2
billion for 2010. Outside Europe, it has a global network of agents, licensees
and distributors. Wavin is listed on the NYSE Amsterdam stock exchange (WAVIN).
More details about Wavin can be found at www.wavin.com
For further information:
Media Relations: Investor Relations :
Herbert van Zijl Ton Bruijne
Telephone: +31 38 429 4209 Telephone: +31 38 429 4357
Mobile: +31 6 51461442 Mobile : +31 6 51234949
E-mail: media(at)wavin.com E-mail: InvestorRelations(at)wavin.com
Click here to view the full press release in PDF format:
http://hugin.info/143050/R/1573648/489806.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters 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: Wavin N.V. via Thomson Reuters ONE
[HUG#1573648]
Unternehmensinformation / Kurzprofil:
Datum: 23.12.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 99715
Anzahl Zeichen: 3519
contact information:
Town:
AD ZWOLLE
Kategorie:
Business News
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