SaudiArabiaPR.com, Online Press Release from Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina and Middle East
Filter PR by
Vectron Systems AG: Business Combination with the Shift4 group to be completed, Delisting planned
MÜNSTER, GERMANY - EQS Newswire - 14 June 2024 - The business combination of Vectron Systems AG ('Vectron') with the Shift4 group ('Shift4') announced on 1 June 2024 was previously subject to the condition that Shift4 succeeds in acquiring a total of at least 70% of Vectron's shares (including the shares from the planned capital increase). Shift4 has declared today that it waives this condition, respectively that the condition is deemed to be fulfilled because the 70% threshold is nearly met. This means not only that the acquisition of approximately 41.4% of Vectron's share capital from the current CEO Thomas Stümmler and a company controlled by him will be completed, but also that the agreed Business Combination Agreement is finally binding and that the 10% capital increase from authorized capital will be subscribed by Shift4 and completed. The condition is also no longer relevant for the current tender offer for all Vectron shares at an offer price of EUR 10.50 per Vectron share. Following the tender offer a de-listing of the Vectron-share is envisaged with short notice.

IR contact:
Meister Consulting GmbH
Tobias Meister
Im Schling 3
59955 Winterberg
Tel.: +49 (0) 2983 908121
Mob.: +49 (0) 170 2939080
E-Mail: meister@meisterconsult.com

Hashtag: #Vectron

The issuer is solely responsible for the content of this announcement.

Vectron Systems AG

Posted by : Media Outreach, Jenny
Posted on : Friday, June 14, 2024  11:00:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of SaudiArabiaPR.com.
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Media OutReach

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
Catrice Unveils the Spring/Summer 2024 Collection: Introducing Shine Bomb Lip Lacquer! [37272-Views]
POCO Sets New Standard with Global Launch of F-Series in Dubai [30177-Views]
Unleash Your Inner Royalty with "Call me Queen" Dramatic False Lash Effect Mascara by esse... [29885-Views]
Panasonic Announces FY24 Business Strategy For Sustained Growth in Middle East and Africa [26750-Views]
Hunger Hotspots Report: Famine Looms In Gaza While Risk Of Starvation Persists In Sudan, Haiti, Mali... [23239-Views]
Last-Minute Eid Shopping With Max Fashion's New Collection [22997-Views]
Ajmal Perfumes Unveils Eau D'Oud- A New Standard of Elegance and Luxury [22231-Views]
WFP News Video: WFP Warns Unprecedented Drought and Floods Causing Surge in Climate Related Hunger [22147-Views]
Urgent Call To Action To Address Historic El Niño Drought In Southern Africa [21976-Views]
Air Cargo Demand Continues Strong Growth into Q2 [20854-Views]
IATA SAF Registry [19554-Views]
Cathay Pacific to launch direct flights connecting Hong Kong and Riyadh [17166-Views]
Catrice's drops new summer favorites: Slim Eye Shadow Palettes and Kohl Kajal! [17153-Views]
Deliverect honours top restaurants in UAE and Saudi Arabia with 0% failed orders in first quarter of... [16459-Views]
Get Ready to have your Summer glow-up with essence Cosmetics' summer collection 2024 [16299-Views]
Amouage presents Rare Is The Rose, a poetic and cinematic tribute to the Omani Rock Rose [15937-Views]
Porsche Becomes Third Major Manufacturer To Commit To Formula E's Gen4 Era Until At Least 2030 [15344-Views]
Dubai Civil Aviation Authority participated in Future Aviation Forum in Riyadh [15056-Views]
Sudan is Facing an Unprecedented Hunger Catastrophe, Say UN Agency Chiefs [14999-Views]
Celebrate Weekends With Shang Palace's Exquisite Weekend Brunch [14487-Views]
 
RSS Facebook Twitter LinkedDin SaudiArabiaPR.com on Instagram
 
Top Sections
 
Top Stories