EQS-Adhoc

Schaeffler AG reaches agreement with Vitesco Technologies Group AG on a preliminary exchange ratio of 11.4 Schaeffler shares per Vitesco share for the intended merger

EQS-Ad-hoc: Schaeffler AG / Key word(s): Merger/Mergers & Acquisitions Schaeffler AG reaches agreement with Vitesco Technologies Group AG on a preliminary exchange ratio of 11.4 Schaeffler shares per Vitesco share for the intended merger 26-Feb-2024 / 09:43 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. Publication of inside information pursuant to Article 17 of Regulation (EU) No. 596/2014

 

Schaeffler AG reaches agreement with Vitesco Technologies Group AG on a preliminary exchange ratio of 11.4 Schaeffler shares per Vitesco share for the intended merger.

 

Herzogenaurach, February 26, 2024 – Schaeffler AG (“Schaeffler”) has preliminarily agreed with Vitesco Technologies Group AG (“Vitesco”) on an exchange ratio of 1:11.4 (i.e., 11.4 Schaeffler shares per Vitesco share) in the context of the intended merger with Vitesco as the transferring entity into Schaeffler as the acquiring entity. This agreement is subject to the condition that the joint valuation expert appointed by both parties and the court-appointed merger auditor confirm the exchange ratio as appropriate. In addition, the agreement is subject to the approval of the supervisory boards of Schaeffler and Vitesco.

 

The conclusion of the merger agreement is planned for a date prior to the convocations of the annual general meetings of Schaeffler and Vitesco, which are to resolve on the merger. The merger agreement will be subject to the approval of the annual general meetings of Schaeffler and Vitesco and will become effective upon entry of the merger in the commercial register at the registered office of Schaeffler and at the registered office of Vitesco. Schaeffler will inform the capital market and the public about further relevant developments in accordance with legal requirements.