Komax Holding AG completed the acquisition of Schleuniger AG from Metall Zug AG.
August 29, 2022
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Komax Holding AG (SWX:KOMN) signed an agreement to acquire Schleuniger AG from Metall Zug AG (SWX:METN) for approximately CHF 360 million on February 9, 2022. The transaction will be carried out through a quasi-merger, in which Komax will issue 1,283,333 new shares to Metall Zug, giving Metall Zug 25% stake in Komax. Schleuniger AG reported net sales of CHF 206 million and EBIT of CHF 14 million for the year ended December 31, 2021. In addition, subject to successful implementation of the merger, Komax will propose the election of Jürg Werner, currently Chairman of the Board of Directors of Schleuniger AG, as the representative of Metall Zug in the Board of Directors of Komax Holding AG. Beat Kälin as Chairman of the Board of Directors and the other five member of Komax's Board of Directors will stand for re-election. 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, which are expected to be satisfied in Q3 2022. As of July 27, 2022, the transaction was approved by the competition authorities. Annual General Meeting of Komax to be held on April 13, 2022. As of April 13, 2022, Komax Holding AG shareholders approved the deal. As of June 21, 2022, the competition council has started assessing the deal. As of July 27, 2022, the transaction is expected to close on August 30, 2022. Stefan Knobloch, Theodor Härtsch, and Katrin Hagger of Walder Wyss Ltd. acted as legal advisors to Komax and Claude Lambert and Andreas Müller of Homburger AG acted as legal advisors to Metall Zug. On completion of the transaction, i.e., as of 30 August 2022, Dr. Jürg Werner became a member of the Board of Directors of Komax Holding AG and the restrictions on registration and voting rights (15%) previously applicable to the shares of Komax Holding AG were abolished without replacement. As of September 1, 2022, The Schleuniger Group will be consolidated.
Komax Holding AG (SWX:KOMN) completed the acquisition of Schleuniger AG from Metall Zug AG (SWX:METN) on August 30, 2022.
Metall Zug AG is a Switzerland-based holding company engaged in the industrial sector. The Company is organized, along with its subsidiaries, into four business segments: Household Appliances, Infection Control, Wire Processing and Medical Devices. The Household Appliances segment develops, produces and distributes appliances for kitchen and laundry, as well as for the hotel industry. The Infection Control segment provides equipment for medical institutions, pharmaceutical institutions and laboratories. The Wire Processing segment provides wire processing equipment. The Medical Devices segment develops, produces and distributes products and services for diagnosis and surgery. The Companyâs subsidiaries include V-ZAG AG, Gehrig Group AG, Belimed AG, Schleuniger Holding AG and Haag Streit Holding AG, among others.
METALL ZUG AG 
