M & A

Kontron: All -round service

Embedded Computer Technology (ECT), expert Kontron AG has acquired the entire share equity of its Indian subsidiary Kontron Technology India PvT. Ltd. Prime Standard-listed Kontron expects that this transaction will enable it to provide a better service to the 120 clients it has in the area. The transaction is part of the company’s development strategy for the Asia Pacific basin.

Tele Columbus: market status consolidated

Germany’s third largest cable network operator Tele Columbus has taken over its competitor Prima Con Holding GmbH. The price stated of 711 million Euros does not yet include cash reserves and liabilities. This transaction places 2.8 million homes within SDax-listed Tele Columbus’s network and confirms its market leadership as a cable network provider.

Prima Con, up to now the German market’s fourth-largest operator has its own optical fibre network that provides cable TV and telecommunication services. According to Tele Columbus, Prima Com’s turnover towards the end of last year amounted to approximately 132 million Euros.

Conclusion of the transaction is expected by end July, but the final approval by the monopolies commission is still pending. According to ”Handelsblatt, Tele Columbus will fund half of the transaction with the revenue from the stock market flotation in January and the other half by means of bank loans and a 125 million Euro bridge finance.

Nanogate: total control

Nanogate AG, the specialist in surface treatments and finishings has taken over the entire equity quota of its subsidiary company GfO AG. Nanogate, quoted on the Entry Standard list exercised its majority option on the remaining 25% quota. No information has been given regarding the price of the transaction. Nanogate is also enhancing its potential in inkjet treatment. Nanogate’s turnover and profit have vastly improved since it became involved with GfO in 2010.

SGL Carbon: costly divorce

SGL Carvon SE has sold its American subsidiary, HITCO Carbon Composites Inc., at a loss. Hitco, a manufacturer of structural components for aircraft, was sold to Avcorp Industries of Canada, with the sole exception of the Material Solutions business. The 47 million dollars of the deal, made up of payments due to the Canadians, repayments of advance payments made by customers and the payment of various services to Avcorp, comes out at a loss. The American authorities still have to approve the transaction which is expected to reach completion by the end of October. SGL is expecting an outflow amounting to some 40 million Euros, most of which should mature at the moment of closing. SDax-listed SGL, does however stand by its forecast for 2015 and a net increase in Ebit and Ebitda.