DGAP-News: VTG Aktiengesellschaft / Key word(s): Mergers &
Acquisitions
Acquisition completed: VTG Aktiengesellschaft takes over AAE - Ahaus
Alstätter Eisenbahn Holding AG
06.01.2015 / 16:50
---------------------------------------------------------------------
Acquisition completed: VTG Aktiengesellschaft takes over AAE - Ahaus
Alstätter Eisenbahn Holding AG
- All anti-trust approvals obtained
- Merger registered today
- VTG fleet increases from over 50,000 to more than 80,000 wagons
- Stronger position as the largest private wagon hire company in Europe
- Broader shareholder structure following capital increase
- Additional Board Member for financial issues
Hamburg, January 6, 2015. VTG Aktiengesellschaft (WKN: VTG999), one of the
leading wagon hire and logistics companies in Europe, has successfully
acquired the wagon hire company Ahaus Alstätter Eisenbahn Holding AG (AAE).
Following the approval of all anti-trust authorities concerned - Germany,
Austria, Poland and Russia - the merger has been finalized and came into
full effect in Hamburg today. VTG has acquired all AAE shares and expanded
its fleet from more than 50,000 to over 80,000 wagons.
"I am delighted that we have been able to take this step just three months
after the merger agreement was drawn up. I am now more convinced than ever
about the tremendous opportunities offered by this merger", said Dr. Heiko
Fischer, CEO of VTG Aktiengesellschaft, and added: "VTG and AAE complement
each other perfectly. We will now unite VTG and AAE's employees and
business activities to offer our customers a new and expanded range of
services."
Both companies released information about the proposed merger on September
29, 2014. In its capacity as a wagon hiring company, AAE is a leading
provider in the field of combined transport. Experts anticipate that this
market will double in size by 2030. VTG has expanded its fleet to a total
of more than 80,000 wagons: around 30,000 AAE wagons will be added to the
existing VTG fleet of over 50,000. Shipping, railway and rail logistics
companies will now be able to benefit from a full range of VTG wagon types,
comprising tank wagons, intermodal wagons, standard freight wagons and
sliding wall wagons, with a comprehensive spectrum of corresponding
services. The average age of the AAE wagons is around 15 years which is
significantly lower than the 23-year average of the VTG fleet. The age
profile of the entire fleet therefore decreases to an average of 20 years.
As previously announced in September 2014, pursuant to the transaction, VTG
Aktiengesellschaft has issued approximately 7.4 million new shares. This
thereby increases the company's capital to EUR 28.8 million, representing a
34 percent increase. The seller, Andreas Goer, will acquire these shares as
part of the agreed contractual consideration and, in doing so, will become
the second largest individual VTG shareholder after Compagnie Européenne de
Wagons S.Ã r.l. which is managed by Wilbur Ross.
The considerably larger fleet and a current balance sheet total of around
EUR 3 billion poses higher demands for balanced and efficient external
financing. VTG, therefore, intends to expand its Executive Board by
welcoming financial expert Mark Stevenson. A corresponding resolution from
the Supervisory Board is expected in January 2015. Mr. Stevenson has been a
member of the AAE Executive Board for finance (CFO) since 1994 and has made
a decisive contribution to growing the company. In addition, he assumed the
position of Chief Executive Officer (CEO) for the first time in 2006, and
again in 2014.
"We are very pleased to welcome such a qualified and experienced financial
expert with a great deal of specific knowledge about AAE's history to the
VTG Executive Board. Mark Stevenson will work alongside Dr. Kai Kleeberg to
ensure that the financial structures of both companies grow closer together
and that the integration progresses smoothly", explained Dr. Heiko Fischer.
About VTG:
VTG Aktiengesellschaft is one of Europe's leading wagon hire and rail
logistics companies, with a fleet consisting of more than 80,000 railcars.
VTG offers a full-range service, providing tank cars, intermodal wagons,
standard freight wagons and sliding wall wagons. In addition to the hiring
of wagons, the Group offers comprehensive multi-modal logistics services,
mainly around rail transport, and global tank container transports.
With the combination of its three interlinked divisions Railcar, Rail
Logistics and Tank Container Logistics, VTG offers its customers a
high-performance platform for international transport of their freight. The
Group has many years of experience and specific expertise, in particular in
the transport of liquid and sensitive goods. Its customers include numerous
well-known companies from almost every industrial sector, for example the
chemical, petroleum, automotive, paper and agricultural industries.
Press contact:
Monika Gabler
Head of Corporate Communications
Telephone: +49 (0) 40 23 54-1341
Fax: +49 (0) 40 23 54-1340
E-mail: monika.gabler@vtg.com
Investor Relations contact:
Christoph Marx
Head of Investor Relations
Telephone: +49 (0) 40 23 54-1351
Fax: +49 (0) 40 23 54-1350
E-mail: christoph.marx@vtg.com
For more information visit www.vtg.de and www.aae.ch.
---------------------------------------------------------------------
06.01.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: VTG Aktiengesellschaft
Nagelsweg 34
20097 Hamburg
Germany
Phone: 040 2354 1351
Fax: 040 2354 1350
E-mail: ir@vtg.com
Internet: www.vtg.de
ISIN: DE000VTG9999
WKN: VTG999
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
310285 06.01.2015
DGAP-News: Acquisition completed: VTG Aktiengesellschaft takes over AAE - Ahaus Alstätter Eisenbahn Holding AG
| Source: EQS Group AG