MAN AG (FRA:MAN) MAN SE: TRATON SE intends to implement a merger squeeze-out of the minority share-holders of MAN SE
Transparency directive : regulatory news
28/02/2020 21:38
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DGAP-Ad-hoc: MAN SE / Key word(s): Squeeze Out
TRATON SE intends to implement a merger squeeze-out of the minority shareholders of MAN SE
Munich, 28. Februar 2020 - The Executive Board of TRATON SE today informed the Executive Board of MAN SE of its intention to merge MAN SE as transferring entity into TRATON SE as receiving entity in order to streamline the overall group structure of TRATON GROUP. The Executive Board of TRATON SE proposed to enter into negotiations with the Executive Board of MAN SE on a merger agreement. In connection with the merger of MAN SE into TRATON SE, the Executive Board of TRATON SE today also submitted the formal request pursuant to section 62(5) of the German Transformation Act (Umwandlungsgesetz, UmwG) in conjunction with section 327a(1) of the German Stock Corporation Act (Aktiengesetz, AktG) to initiate the procedure for transferring the shares of the minority shareholders of MAN SE to TRATON SE against a reasonable cash compensation (merger squeeze-out) and to arrange for MAN SE's general meeting to resolve on the merger squeeze-out within three months after conclusion of the merger agreement. TRATON SE confirmed that it currently holds 94.36 % of the share capital of MAN SE and TRATON SE is therefore the majority shareholder of MAN SE within the meaning of section 62(5) UmwG in conjunction with section 327a(1) AktG. The amount of the reasonable cash compensation that TRATON SE, as majority shareholder, will grant to the minority shareholders of MAN SE for the transfer of the shares has not yet been determined. Contact: Dr. Martin Gstaltmeyr General Counsel T +49 89 1580 7264 martin.gstaltmeyr@man.eu MAN SE Dachauer Str. 641 80995 Munich, Germany www.corporate.man.eu
28-Feb-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | MAN SE |
| Dachauer Str. 641 | |
| 80995 München | |
| Germany | |
| Phone: | +49 (0)89 360 98-334 |
| Fax: | +49 (0)89 360 98-572 |
| E-mail: | investor.relations@man.eu |
| Internet: | www.corporate.man.eu |
| ISIN: | DE0005937007, DE0005937031 |
| WKN: | 593700, 593703 |
| Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (General Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange |
| EQS News ID: | 986821 |
| End of Announcement | DGAP News Service |
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986821 28-Feb-2020 CET/CEST
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