Villeroy & Boch AG (XTRA:VIB3) signed binding agreements to acquire IDEAL STANDARD (UK) LTD. from Ideal Standard International NV on September 18, 2023. The acquisition price is based on a company valuation of approximately ?600 million. Villeroy & Boch is financing the transaction from its own liquid funds and with borrowing of ?250 million. The transaction includes all group operating companies are covered by the transaction, including business activities in the Middle East and Africa previously operated by the Ideal Standard Group in a joint venture with Roots Group Arabia. Shareholder loans amounting to no more than approximately ?93 million will be carried forward, which significantly reduces Ideal Standard Group's gearing. Ideal Standard generated the sales of ?737.2 million and EBITDA of about ?73.7 million for the year ended 2022. The composition of Villeroy & Boch AG?s Management Board will remain unchanged under Chief Executive Officer Gabi Schupp. Jan Peter Tewes will continue to manage the Ideal Standard business and will report to Gabi Schupp. The transaction is subject to the usual regulatory reviews and approvals as well as the successful redemption of the ?325 million bond issued by Ideal Standard International S.A. The transaction is expected to be completed in early 2024. Christoph H. Seibt, Boris Dzida, Martin Klusmann, Mario Hüther, Michael Josenhans, Alexander Schwahn, Stephen Hewes , Juliane Ziebarth, Marius Gorski, Frank Steenbock and Alexander Pospisil of Freshfields Bruckhaus Deringer (Hamburg) acted as legal advisor to Villeroy & Boch AG (XTRA:VIB3). J.P. Morgan SE acted as financial advisor to Villeroy & Boch AG (XTRA:VIB3). Deutsche Bank AG, London Branch acted as financial advisor to Ideal Standard. Will Summers, James Greene, Will Smith, Marc Israel, Nicholas Greenacre, Allan Taylor, and Ingrid Wijnmalen of White & Case LLP advised the shareholders of IDEAL STANDARD.

Villeroy & Boch AG (XTRA:VIB3) completed the acquisition of IDEAL STANDARD (UK) LTD. from Ideal Standard International NV on February 29, 2024.