United Internet to become largest shareholder in Drillisch AG
Montabaur, April 27, 2015. United Internet AG today contractually secured – via its subsidiary United Internet Ventures AG – the purchase of an approx. 9.1% equity stake in Drillisch AG, Maintal. The acquisition can only be closed after the relevant approval has been granted by Germany’s Federal Cartel Office.
When the purchase is closed, United Internet AG will have a total indirect holding of 20.7% in Drillisch AG via its acquired and contractually agreed interests.
United Internet regards Drillisch AG as a well-positioned company with promising market opportunities. The product portfolio and target groups of Drillisch AG fit well with the Access business of the United Internet Group.
Ralph Dommermuth, CEO of United Internet, says: “We have known Drillisch and the Choulidis brothers on its Management Board for many years and value their successful management of the company. As a strategic shareholder, we want to accompany the further development of Drillisch AG and profit from its growth.”
However, United Internet AG does not currently intend to acquire an equity stake of 30% or more in Drillisch AG – which would oblige it to submit a mandatory bid to all other shareholders of Drillisch AG – nor to make a voluntary takeover bid.