paragon GmbH & Co. KGaA / Key word(s): Disposal
paragon Signs Contracts for Sale of Stake in Voltabox

15.11.2021 / 07:00
The issuer is solely responsible for the content of this announcement.


paragon Signs Contracts for Sale of Stake in Voltabox

- 49% stake in Voltabox AG goes to two different investors

- Strategic investor Trionity acquires 28%

- Closing expected shortly

Delbrück, Germany, November 15, 2021 - paragon GmbH & Co. KGaA [ISIN DE0005558696] has carried out the previously announced over-the-counter sale of its former 51% share in Voltabox AG. 28% of its block of shares are going to strategic investor Trionity Invest GmbH, who gets the option to additionally buy further about 2% from paragon; around 21% are bought by Swiss financial investor EW-Trade AG. The corresponding sales contracts were signed independently of each other on November 12, 2021. The parties have agreed not to disclose the terms of the transactions.

"With the sale of our investment in Voltabox AG, paragon will now be able to fully concentrate on the automotive market again," says Klaus Dieter Frers, founder and CEO of paragon. "With its new anchor shareholders, Voltabox will be able to accelerate its focus on industrial applications."

Trionity Invest GmbH is part of the Triathlon group. Triathlon develops and produces batteries for industrial application. The new anchor investor is going to actively support the company's ongoing restructure.

Because of Trionity's decision to initially buy just a 28% share in Voltabox, paragon has resolved to sell the further 21% to the Swiss financial investor EW-Trade AG, who had expressed interest in a noncontrolling interest at a very early stage.

Once the transactions are closed, which is planned short-term, paragon GmbH & Co. KGaA has still a 2% stake into Voltabox AG; Trionity owns a call-option for this stake. Due to their personal connections to paragon, the members of Voltabox AG's Supervisory Board, Klaus Dieter Frers, Hermann Börnemeier and Walter Schäfers, will promptly resign their mandates.

As previously announced, paragon will be taking over the automotive business of Voltabox AG, including its employees and an exclusive license for the Flow-Shape-Design-technology for use in cars, trucks, two-wheelers and aerospace as part of the sale of its block of shares. paragon is planning to significantly expand its Delbrück based new business unit Power. The completion of this sale is still subject to the approval of the Voltabox AG Supervisory Board.

 

About paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. In addition, the Group holds a stake in Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M. and which is active in the electromobility segment with cutting-edge lithium-ion battery systems for industrial use developed inhouse. In the rapidly growing automotive market for battery systems and power electronics, paragon will operate on its own in the future.
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 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) and Oroslavje (Croatia).

Capital Market & Press Contact

paragon GmbH & Co. KGaA

Dr. Martin Esser
Bösendamm 11
33129 Delbrück, Germany
Phone: +49 (0) 52 50 - 97 62-200
Fax: +49 (0) 52 50 - 97 62-102
Email: investor@paragon.ag



15.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: paragon GmbH & Co. KGaA
Bösendamm 11
33129 Delbrück
Germany
Phone: +49 (0)5250 97 62 - 0
Fax: +49 (0)5250 97 62 - 60
E-mail: investor@paragon.ag
Internet: www.paragon.ag
ISIN: DE0005558696, DE000A2GSB86,
WKN: 555869, A2GSB8,
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1248864

 
End of News DGAP News Service

1248864  15.11.2021 

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