EMMEN, SWITZERLAND--(Marketwired - Sept. 15, 2016) - ALSO Holding AG (SIX:ALSN) reports a change in its ownership structure. Due to the ongoing exchange of ALSO shares relating to the Exchangeable Bond issued by Schindler Holding AG, Schindler announced that Schindler Holding AG's investment holding of ALSO shares has fallen below 10 percent. Consequently the shareholders' agreement between a subsidiary of Droege International Group AG and Schindler Holding AG, which hold the shares of ALSO, will be terminated.
During the merger of ALSO and Actebis in January 2011, Droege Group and Schindler Group signed a shareholders' agreement to manage their holdings, which at that time comprised more than 81% in the new company, ALSO-Actebis Holding AG (now ALSO Holding AG). Because Schindler's ownership share has now fallen below 10 percent, the shareholders' agreement between Special Distribution Holding GmbH (a subsidiary of Droege International Group AG, majority shareholder of ALSO Holding AG) and Schindler Holding AG will be terminated as planned. Consequently, the contractually provided minority and representation rights of Schindler Holding AG will cease.
Special Distribution Holding GmbH remains the majority shareholder of ALSO Holding AG with a shareholding of 51.3 percent.
Direct Link: http://www.also.com/goto/20160915en
ALSO Holding AG (Emmen/Switzerland) brings providers and buyers of the ICT industry together. The company offers services at all levels of the ICT value chain from a single source. In the European B2B marketplace, ALSO bundles logistics services, financial services, supply services, solution services, digital services, and IT services together into individual service packages. ALSO's portfolio contains more than 160 000 articles from some 350 vendors. The Group has around
3 750 employees throughout Europe. In fiscal year 2015 (closing on December 31), the company generated net sales of
7.8 billion euros. The majority shareholder of ALSO Holding AG is the Droege Group, Düsseldorf, Germany. Further information is available at www.also.com.
Droege Group (founded in 1988) is an independent consultancy and investment company under full family ownership. The company acts as a specialist for tailor-made restructuring programs with the aim of enhancing corporate value. Droege Group combines its corporate family-run structure and capital strength into a family-equity model. The group carries out direct investments in corporate subsidiaries and medium-sized companies in "special situations" with the use of equity. The motto of "The Art of Implementation" has made the group into a pioneer among hands-on implementation-oriented consultancies. Droege Group demonstrates its implementation excellence daily within its own portfolio. The seven corporate platforms which exist at present are aligned to the current megatrends (mobility, prevention, digitalization, demography, etc.). Enthusiasm for quality, innovation and speed determines our actions. In this way Droege Group has successfully gained a position in the domestic and international markets and operates with over 120 companies in 30 countries. In 2015 the sales volume of Droege Group was 9.2 billion euros.
More information: http://www.droege-group.com.
This press release contains forward-looking statements which are based on current assumptions and forecasts of the ALSO management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular the results, financial situation, and performance of our Group. The Group accepts no responsibility for updating these forward-looking statements or adapting them to future events or developments.