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EQS-Adhoc: Muehlhan AG: Sale of subsidiaries | news


EQS-Ad-hoc: Muehlhan AG / Key word(s): Sale
Muehlhan AG: Sale of subsidiaries

09/24/2022 / 02:40 CET/CEST
Disclosure of inside information according to Article 17 of Regulation (EU) No. 596/2014, transmitted by EQS – a service of EQS Group AG.
The issuer / publisher is responsible for the content of the notification.

Publication of insider information according to Article 17 MAR

Muehlhan AG: sale beforen subsidiaries

Hamburg, 24. Sep 2022 Muehlhan AG (Open Market; ISIN DE000A0KD0F7; WKN A0KD0F) (the Company) announces that the Management Board, with the approval of the Supervisory Board, decided today to sell selected subsidiaries, particularly in Europe and the USA, as well as the Muehlhan brand to Platinum 2331. GmbH (in the future trading as Shield BidCo GmbH), a company of US private equity investor One Equity Partners (the Transaction). The subsidiaries in Russia, India, Canada, the Bahamas and the Middle East will not be sold. The purchase contract was signed immediately after the decision was taken by the Management Board. A fixed purchase price totaling 58.9 million was agreed, which bears interest of 12,000 per calendar day until the transaction is completed. If completed on December 31, 2022, the purchase price would correspond to a value per share of 3.26. In addition, the Purchaser will pay a purchase price for acquired shareholder loans of the Company equal to the nominal amount of the shareholder loans as of the Closing Date (estimated amount of approximately $8 million).

The transaction is expected to be completed in the first quarter of 2023 at the latest; it is subject to standard market conditions, in particular official approvals and the approval of the company’s general meeting. For this purpose, the Management Board and the Supervisory Board will promptly convene an extraordinary general meeting.

The Management Board and the Supervisory Board intend to distribute the remaining portion of the purchase price accruing to the company after the repayment of financial liabilities as soon as and to the extent permitted by law to the shareholders.

Further information can be obtained from:

Muehlhan AG

Investor Relations

Frithjof Dorowski

Telephone: +49 (0)40 752 71-166

Email: investorrelations@muehlhan.com

About Muehlhan: As a listed corporation, the Muehlhan AG traded in the Open Market of the Frankfurt Stock Exchange (ISIN: DE000A0KD0F7 / WKN A0KD0F). the Muehlhan Group offers its customers a diversified range of industrial services: wind turbine services, surface protection, steel construction services, passive fire protection, scaffolding and insulation work. Muehlhan combines a high level of organization, technological expertise, 140 years of experience and strict quality standards to create a cost-efficient range of industrial services, thereby meeting customers’ highest quality requirements.

For more information, visit www.muehlhan.com

Press contact: Muehlhan AG; Phone: +49 40 75271-0; Email: investorrelations@muehlhan.com

09/24/2022 CET/CEST The EQS distribution services include legal reporting obligations, corporate news/financial news and press releases.
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