DGAP-Adhoc Heidelberger Druckmaschinen AG: Sale of Gallus Group to benpac holding ag not completed
DGAP-Ad-hoc: Heidelberger Druckmaschinen AG / Key word(s): Strategic Company Decision
The sale of the Gallus Group by Heidelberger Druckmaschinen AG (Heidelberg) to the Swiss company benpac holding ag has not been completed. At today's scheduled closing, benpac holding ag did not make the agreed purchase price payment of EUR 120 million, although all conditions were met. Gallus will remain with Heidelberg. Heidelberg will assert its rights.
Heidelberger Druckmaschinen AG
Corporate Public Relations
Phone: +49 (0)6222 82-67123
Fax: +49 (0)6222 82-67129
Phone: +49 (0)6222 82-67120
Fax: +49 (0)6222 82-99 67120
Information and Explanation of the Issuer to this News:
- Sale of Gallus Group to benpac holding ag not completed
- Purchase price payment by benpac holding ag not made today
- Heidelberg will assert its rights
- Gallus Group continues realignment under Heidelberg umbrella
- Heidelberg continues to press ahead with transformation program
The sale of the Gallus Group by Heidelberger Druckmaschinen AG (Heidelberg) to the Swiss company benpac holding ag has not been completed. benpac holding ag did not make the purchase price payment of EUR 120 million agreed at today's closing, although all the necessary conditions were met. Heidelberg had to assume until the very end that the transaction would be completed successfully. Heidelberg will assert its rights.
The five sites and around 430 employees of the Gallus Group will remain with Heidelberg. Nothing will change for Gallus customers. Heidelberg will continue continue to handle sales and service for the Gallus portfolio and their personal contacts will remain the same. Heidelberg will now be examining various options for the corporate future of Gallus. In any case, Gallus will continue on its path to boosting operating performance: With an independent setup and specific focus on its flexographic printing market, Gallus made good operational progress last year under the Heidelberg umbrella.
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