Hengeler Mueller advises Dürr on acquisition of HOMAG shares
15. July 2014
Dürr AG, via its wholly-owned subsidiary Dürr Technologies GmbH, has reached agreement with several major shareholders of HOMAG Group AG (HOMAG) to acquire a total of 53.7% of HOMAG shares. The purchase price for the 53.7% of the HOMAG shares is EUR 219 m. An agreement was also reached with the Schuler family and the Klessmann foundation, who have so far held a 25.1% stake in HOMAG in the form of a share pool, on Dürr joining the pool. The share pool will consent to the completion of a control and/or profit and loss transfer agreement by Dürr. The execution of the purchase contracts is subject to approval by the relevant antitrust authorities. Dürr will submit a voluntary public takeover offer to the HOMAG shareholders to acquire all of the shares.
HOMAG is a manufacturer of plant and machinery for the woodworking industry. The company operates worldwide and achieved sales of EUR 789 m in 2013 with around 5,100 employees.
Dürr is a mechanical and plant engineering group and employs approximately 8,250 staff at 54 business locations in 26 countries worldwide. In 2013, Dürr achieved sales of EUR 2.4 bn.
Hengeler Mueller advises Dürr on the transaction. The Hengeler Mueller team includes partners Daniela Favoccia, Klaus-Dieter Stephan (both M&A/Corporate), Christian Hoefs (Labour) (all Frankfurt), Alf-Henrik Bischke (Antitrust, Düsseldorf) as well as associates Heiko Gotsche, Johannes Baumann, Andreas Lischka, Anne Broll, Christin Posdziech (all Frankfurt), Anja Balitzki (Düsseldorf), Jan-Henning Wyen (Munich).