DGAP-News: Sales negotiations for stake in Voltabox concluded
DGAP-News: paragon GmbH & Co. KGaA
/ Key word(s): Disposal
Sales negotiations for stake in Voltabox concluded
- Negotiations with investors successful - waiting for official exemption
- Buyer of Voltabox U.S. Activities confirms deal - signing of contract expected in next few days
- Revenue in automotive business still on track despite chip shortage
Delbrück, Germany, September 30, 2021 - paragon [ISIN DE0005558696] has successfully concluded negotiations with investors concerning the sale of the financial stake in Voltabox AG. Only an official exemption decision is still pending on the part of the buyer. Upon its receipt, an already negotiated purchase agreement will be concluded between paragon and an acquisition entity. The company expects the contract to be signed in October 2021.
In the meantime, agreement has also been reached with the buyer of Voltabox's U.S. activities, to be sold separately, on all key contractual points, which means this contract should also be concluded in the next few days. The sale of the U.S. activities would also have been a condition for the completion of the sale of the shares in Voltabox AG.
"We were able to reach consensus with both the buyer of our stake in Voltabox and with the buyer of Voltabox's U.S. activities almost simultaneously. We are very happy to have now created almost all the conditions for a successful completion of the process," says Klaus Dieter Frers, founder and CEO of paragon.
Meanwhile, the direct supplier to international car manufacturers is satisfied with the business performance in the automotive business. Despite the chip shortage, sales are on target and the forecast of € 145 million in sales and an EBITDA margin of 12% to 15% can be maintained.
In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech, Neu-Ulm and Nuremberg (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Bangalore (India), Oroslavje (Croatia) and Austin (Texas, USA).
Additional information about paragon can be found at www.paragon.ag.
Dr. Martin Esser
|Company:||paragon GmbH & Co. KGaA|
|Phone:||+49 (0)5250 97 62 - 0|
|Fax:||+49 (0)5250 97 62 - 60|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1237357|
|End of News||DGAP News Service|