By Maitane Sardon
OHB said it has received a voluntary takeover bid from U.S. investment company KKR and will seek delisting from the stock exchange.
Investors will receive 44 euros ($48.45) in cash per share, a premium of 36.6% to the closing price Friday, the German space and technology group said.
The deal values the company at EUR764.3 million, based on OHB’s share-count data provided by FactSet.
The Fuchs family will remain majority shareholders and Marco Fuchs will continue to lead the company as chief executive officer, it said.
As part of the deal, which OHB said is supported by the executive and supervisory boards, KKR plans a 10% capital increase at the offer price.
KKR also plans to invest EUR30 million in the company’s subsidiary Rocket Factory Augsburg through convertible instruments.
“Strengthening OHB as an independent, European company and partner for governments and institutions strengthens European security and sovereignty in space,” Chief Executive Marco Fuchs said.
Write to Maitane Sardon at [email protected]
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