DGAP-News
HORNBACH Familien-Treuhandgesellschaft mbH: Hornbach family places one million ordinary shares in KGaA
DGAP-News: HORNBACH Familien-Treuhandgesellschaft mbH / Key word(s): Corporate Action
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Annweiler am Trifels, March 27, 2017.
The family trust Hornbach Familien-Treuhandgesellschaft mbH, based in Annweiler/Rheinland-Pfalz, today decided to place one million non-par ordinary bearer shares in Hornbach Holding AG & Co.
KGaA on the capital market. This private placement of 6.25% of the share capital in the KGaA will be executed by way of an accelerated bookbuilding process performed by Commerzbank AG and is
expected to be completed by Tuesday, March 28, 2017. With this transaction, the family trust is now selling the second half of two million shares bought back from Kingfisher plc at the end of March
2014. The family trust placed the first half of this equity stake in October 2015.
Upon the first placement in the fall of 2015, the family trust already indicated that it would only be retaining the remaining one million ordinary shares in the KGaA on a temporary basis. The precondition for this was the change in the company's legal form to a partnership limited by shares (KGaA). "Via its control of Hornbach Management AG (the general partner), the family will remain the determining force shaping the company's development in future as well. This way, it will sustainably safeguard the autonomy of the Hornbach Group", commented Albrecht Hornbach, Managing Director of the family trust.