AVIC International Engineering Holdings Pte. Ltd., China, submitted a voluntary public takeover offer to the shareholders of publicly listed KHD Humboldt Wedag International AG, Cologne. Network Corporate Finance advised the KHD supervisory board in connection with the transaction and provided a fairness opinion.
Transaction
On October 11, 2013 AVIC International Engineering Holdings Pte. Ltd., China, published its decision to submit a voluntary public takeover offer to all shareholders of KHD Humboldt Wedag International AG, Cologne, in accordance with the German Securities Acquisition and Takeover Act. On November 21, 2013, AVIC offered the shareholders a price of EUR 6.45 per share, equalling an enterprise value (incl. net debt) of EUR 319 million. Network Corporate Finance advised the KHD supervisory board in connection with the transaction and provided an assessment regarding the financial appropriateness of the offer ("fairness opinion").
Die Unternehmen
The company KHD is a global leader for equipment and services to cement producers. The group employs more than 750 employees worldwide. The company generated revenues of EUR 213.5 million in 2012 and is listed on the Frankfurt Stock Exchange.
For additional information on KHD Humboldt Wedag International AG:
www.khd.com
