SWOCTEM GmbH made an offer to acquire unknown minority stake in Klöckner & Co SE (XTRA:KCO) for ?9.75 per share on March 13, 2023. The closing of the Offer will be subject to certain conditions. These are expected to include, amongst others, antitrust and other regulatory clearances and other conditions in line with market practice. However, the Offer will not subject to a condition that a minimum number of Klöckner Shares are tendered. As of March 31, 2023, the Management Board and the Supervisory Board of Klöckner & Co SE recommend shareholders of the Klöckner & Co SE not to accept the voluntary public takeover offer by SWOCTEM GmbH. Thomas König, George Karafotias, Florian Ziegler of Shearman & Sterling LLP acted as legal advisor to SWOCTEM GmbH. Macquarie Capital Germany acted as financial advisor to Klöckner & Co SE. Markus Stephanblome of Clifford Chance acted as a legal advisor to Macquarie on the preparation of a fairness opinion letter addressed to the Supervisory Board by Macquarie Capital France SA, German branch, for the joint response statement of Klöckner's Management Board and the Supervisory Board on the voluntary public takeover offer of SWOCTEM GmbH in relation to the shares of Klöckner & Co SE. Jan Bauer of Skadden represented Goldman Sachs & Co. LLC as financial advisor to the management board of Klöckner & Co SE.

SWOCTEM GmbH acquired unknown minority stake in Klöckner & Co SE (XTRA:KCO) for ?9.75 per share on January 24, 2024.