DGAP-Adhoc: The NAGA Group AG: Major Shareholder FOSUN to take majority, EUR5M growth capital to be injected.
DGAP-Ad-hoc: The Naga Group AG / Key word(s): Corporate Action
Major Shareholder FOSUN to take majority, EUR5M growth capital to be injected.
Passende neue Barrier Reverse Convertibles
Hamburg - August 26, 2019
Shanghai-based FOSUN- Group increases its stake in The Naga Group AG, Hamburg, by acquiring an additional 17.22 % of the shares in the company from other shareholders. Together with the shares held so far, directly and indirectly, FOSUN will become the companies' majority shareholder in the course of this acquisition.
Alongside the acquisition of the majority stake, FOSUN undertakes to inject further growth capital of EUR5M into NAGA whereof EUR3M will be granted as a senior loan and additional EUR2M via subscription of a convertible note, whereby the subscription rights of the shareholders shall be excluded.
As part of the set of the transaction agreements, close to 90 % of the companies' shareholders will lockup their shares for an additional 3 year period and enter into a voting pool during that time.
Being subject to various closing conditions, the transaction is expected to be closed until year-end 2019.
26-Aug-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||The NAGA Group AG|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||863277|
|End of Announcement||DGAP News Service|
863277 26-Aug-2019 CET/CEST