Eckert & Ziegler AG plans intra-group merger with the Belgian Eckert & Ziegler BEBIG SA
2018-09-05 / Upon consultation with its Supervisory Board, the Board of Directors of Berlin-based Eckert & Ziegler (EZAG) has decided today to advance preparations for a merger of its Belgian subsidiary Eckert & Ziegler BEBIG SA (EZB) with EZAG. EZAG already holds nearly 81% of the shares and almost 84% of the voting rights in EZB. The merger plan for the cross-border merger is currently being compiled by both companies. Within the scope of these plans, both EZAG and EZB are working on the assumption that the share conversion ratio will range in the area of one EZAG share at 4.15 to 5.90 EZB shares. Plans call for granting EZB shareholders treasury shares held by EZAG. A capital increase on the part of EZAG within the scope of this merger will therefore not be required. Additional details as well as definitive information regarding the conversion ratio will be announced when the extraordinary general meeting of shareholders is convened.
The objective of the merger is to streamline the corporate structure of the EZAG Group as well as the associated regulatory reporting. The merger will serve to lay the foundation for the successful advancement and continued profitable growth of the Eckert & Ziegler Group.
The conclusion of the merger in particular is subject to the approval of the general shareholder meetings of both companies and the granting of governmental clearances. The intention is to hold the extraordinary general meetings of EZAG and EZB this year.
"Dual stock exchange listings within the group mean higher administrative expenditures that are compensated by only minor economic benefits. Ending the stock exchange listing and the thus associated cost savings, reduces the annual expenditure of EZB significantly, including the statutory audit of the annual accounts," explains Dr. Andreas Eckert, CEO of Eckert & Ziegler AG.
About Eckert & Ziegler.
Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), which has over 800 employees, is one of the world's largest providers of isotope technology for radiotherapy and nuclear medicine.
source: Eckert & Ziegler AG