Hengeler Mueller advises VTG AG on takeover by Warwick Holding

20. July 2018

Warwick Holding GmbH (“the Bidder”), an indirect subsidiary of funds advised by Morgan Stanley Infrastructure Inc. which holds approx. 29% of the shares in VTG Aktiengesellschaft (“VTG AG”), has announced its decision to make a voluntary public takeover offer to all shareholders of VTG AG at an offer price of EUR 53 per share. According to the Bidder, Kühne Holding AG, which holds approx. 20% of the shares in VTG AG, irrevocably committed to tender the shares it currently holds in connection with the takeover offer.

VTG AG is one of Europe’s leading wagon hire and rail logistics companies, with a fleet consisting of more than 80,000 railcars. In the financial year 2017, VTG generated revenue of EUR 1,014 m and operating profit (EBITDA) of EUR 343 m. Via its subsidiaries and affiliates the company, which has its head office in Hamburg, is mainly present in Europe, North America, Russia and Asia. VTG AG is listed on the official Prime Standard market of the Frankfurt Stock Exchange and also on the SDAX.