EQS-Adhoc

123fahrschule concludes purchase agreement for the acquisition of FOERST driving simulators

EQS-Ad-hoc: 123fahrschule SE / Key word(s): Expansion/Takeover 123fahrschule concludes purchase agreement for the acquisition of FOERST driving simulators 12-May-2024 / 12:16 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS RELEASE.

 

123fahrschule SE has concluded an agreement to acquire FOERST GmbH, a long-standing manufacturer and developer of driving simulators for driving licence training in Wiehl. The purchase price can be paid in full or in part in shares at the discretion of 123fahrschule SE.

 

Cologne, 12. May 2024 - The Management Board of 123fahrschule SE (ISIN: DE000A2P4HL9, "Company") has concluded a share purchase agreement with the shareholders of FOERST GmbH in Wiehl for the acquisition of all shares by 123fahrschule Holding GmbH.

As a pioneer in driving simulation, Foerst GmbH launched the world's first commercial driving simulator back in 1976. Building on its many years of expertise, the company develops and produces simulators for cars, lorries and buses, which are used both domestically and internationally for driver training and other applications.

The company expects that the driving simulator will play a much greater role in driving licence training in Germany in the future as part of the amendment to the learner driver training regulations (Fahrschülerausbildungsordnung ) currently being implemented. In particular due to the fact that driving school vehicles with manual gearboxes are virtually no longer available from all manufacturers, 123fahrschule expects that manual training will soon shift completely to the simulator. The increased use of simulators will make training more cost-effective, efficient and faster for students in the future. The company also anticipates significant CO2 savings.