Takeover of the operating companies of Balda AG: Heitkamp & Thumann offer accepted by overwhelming majority of shareholders at Balda AG’s annual general meeting
- 97.4% of the shareholders' votes represented accepted sale to Heitkamp & Thumann
- Balda’s Management Board and Supervisory Board should promptly accept the offer in the interest of the company and the shareholders
- An ongoing delay would harm Balda
Dusseldorf, December 1, 2015 - The Heitkamp & Thumann Group, a leading global manufacturer of precision formed components made of metal and plastic, announces that its purchase offer for the takeover of the operating companies of the Balda AG, Bad Oeynhausen, has been approved at Balda’s annual general meeting in Hanover with 97.4% of the shareholders' votes represented, clearly exceeding the required qualified majority of 75% of the shareholders' votes represented.
Christian Diemer, General Partner & CEO of the Heitkamp & Thumann Group, said: "We are very pleased that our purchase offer for the entire operating business of Balda AG convinced their shareholders and we are grateful for this overwhelming vote of confidence. Now it is the responsibility of Balda‘s management and supervisory board to keep the period of uncertainty as short as possible and to close and complete the purchase promptly. Our binding purchase agreement provides Balda’s shareholders the opportunity to realize an attractive profit immediately. Not closing the purchase agreement would harm Balda’s operations and reputation and risks the loss of customer confidence."
From today's perspective, the transaction could be completed in the first quarter of 2016, following the closing of the Heitkamp & Thumann purchase offer by Balda AG and the fulfillment of the agreed contractual closing conditions.
About the Heitkamp & Thumann Group:
The Heitkamp & Thumann Group is a leading global partner for the development and supply of world-class precision-formed components in both metal and plastic. The family-owned group comprises more than 20 small and medium-sized enterprises located in 9 different countries and employing some 2000 people. The success of the Group and its three business divisions is based on actions guided by a long-term perspective and continuity in the area of company management.
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