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Metall Zug Plans to Merge Schleuniger Into Komax

Schleuniger Global02/10/2022

Metall Zug AG and Komax Holding AG have signed an agreement under which the Metall Zug Group will merge Schleuniger into Komax.

Metall Zug will merge its business unit Wire Processing, the Schleuniger Group, into the Komax Group in exchange for a 25% participation in Komax Holding AG. The transaction will be carried out through a 'quasi-merger' in which Komax Holding AG will issue new shares in the course of a capital increase and allocate these to Metall Zug AG in exchange for the shares of Schleuniger AG. Metall Zug and Komax have signed an agreement to this effect.

The transaction depends, among other conditions, on the approval of the relevant proposals by Komax's Annual General Meeting and the consent of the relevant competition authorities to the merger. This process is expected to be completed in the third quarter of 2022. At the Annual General Meeting of Komax Holding AG on April 13, 2022, it will be proposed to the shareholders of Komax Holding AG, among others, to create the necessary authorized share capital, and, conditional on the completion of the merger, to elect Jürg Werner, currently Chairman of the Board of Directors of Schleuniger AG, as the representative of Metall Zug on the Board of Directors of Komax Holding AG.

 

More details about the ‘quasi-merger’ can be found in the official press release from Metall Zug AG.