EQS-Adhoc Decision FINMA
EQS Group-Ad-hoc: Swiss Steel Holding AG / Key word(s): Tender Offer
FOR RELEASE IN SWITZERLAND - NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
Lucerne, 28 January 2021 - Swiss Steel Holding AG takes note of a decision of the Swiss Financial Market Supervisory Authority FINMA of 27 January 2021. Therein FINMA has rejected (Nichteintreten) an application by Liwet Holding AG seeking a revision of FINMA's decision of 6 December 2019. In its decision of 6 December 2019 FINMA had granted BigPoint Holding AG an exemption from the tender offer duty in case of exceeding a shareholding of 33.33% in Swiss Steel Holding AG. Accordingly, the FINMA exemption continues to be in force. With respect to another request from Liwet Holding AG whereby BigPoint Holding AG shall be ordered to submit a mandatory tender offer to the shareholders of Swiss Steel Holding AG despite the aforementioned exemption from the tender offer duty FINMA has declared itself not competent and without entering into the merits deferred the matter to the Swiss Takeover Board for potential consideration.
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About Swiss Steel Group
The Swiss Steel Group is currently one of the world's leading providers of customized solutions in the field of special long steel products. The Group is also one of the leading manufacturers in the global market for both tool steel and stainless long steel and is one of the two largest companies in Europe for alloyed and high-alloy engineering steel. With more than 10,000 employees at its own production and distribution companies in over 30 countries across five continents, the Company supports and supplies its customers around the globe and offers them a full worldwide portfolio from Production and Sales & Services. They benefit from the Company's technological expertise, consistently high product excellence across the globe, and in-depth knowledge of local markets.