DGAP-News

Correction of a release from 23.11.2016, 08:55 CET/CEST - BAVARIA Industries Group AG sells TriStone Flowtech S.A.S. for a total consideration of EUR 170 million

DGAP-News: BAVARIA Industries Group AG / Key word(s): Investment/Disposal
Correction of a release from 23.11.2016, 08:55 CET/CEST - BAVARIA Industries
Group AG sells TriStone Flowtech S.A.S. for a total consideration of EUR 170
million

23.11.2016 / 10:00
The issuer is solely responsible for the content of this announcement.

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BAVARIA Industries Group AG sells TriStone Flowtech S.A.S. for a total
consideration of EUR 170 million

* BAVARIA Industries Group AG has signed an agreement for the sale of
TriStone Flowtech Group;
* Acquirer is Zhongding Group;
* The closing is subject to antitrust and Chinese regulatory approvals.

BAVARIA Industries Group AG ('BAVARIA') acquired TriStone Flowtech Group
('TriStone') in May 2010 and led a successful turnaround of the business.
Based in Frankfurt, the automotive supplier group has 2,800 employees with
ten production plants in Europe, NAFTA, China and India and expects a
turnover of almost EUR 250 million in 2016. The consideration to be paid at
closing is EUR 170 million. 'TriStone has a strong order back-log and will
continue to grow strongly in the future. The transaction should also
provide an attractive return for Zhongding', according to Reimar Scholz,
Chief Executive Officer of the BAVARIA Industries Group AG.

During its period of ownership, the BAVARIA Group nearly doubled its sales
from EUR 130 million and increased the EBITDA margin from 2% to 11%. 'With
its global network and significant capital reserves, Zhongding is well-
positioned to support the international expansion of TriStone especially in
its fluid motor and battery cooling business', according to Günter Frölich,
Chief Executive Officer of TriStone.

The Zhongding Group is a leading Chinese automotive supplier with turnover
of over EUR 1.7 billion. The company's takeover of TriStone is the second
transaction with BAVARIA.

William Blair and Allen & Overy acted as financial and legal advisor to
BAVARIA Industries Group AG in the transaction.

BAVARIA Industries Group AG owns nine European companies with around 5,800
employees. The Munich-based industrial holding company is majority-family-
owned and follows a long-term investment strategy.

We would be pleased to answer any further questions you may have:


BAVARIA Industries Group AG
Reimar Scholz
Bavariaring 24
80336 Munich

Tel.: + 49 - (0)89/ 72 98 967-0
Fax: + 49 - (0)89/ 72 98 967-10
Email: [e-mail]

www.baikap.de


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23.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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Language: English
Company: BAVARIA Industries Group AG
Bavariaring 24
80336 München
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.baikap.de
ISIN: DE0002605557
WKN: 260555
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange; Open Market (Entry
Standard) in Frankfurt


End of News DGAP News Service
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