ZF intends to tender its entire holding in Haldex into Knorr-Bremse offer
Friedrichshafen – ZF Friedrichshafen AG, through its wholly-owned subsidiary ZF International B.V. (“ZF”), announced today that it has reduced its shareholding in Haldex Aktiebolag (publ) (“Haldex” or the “Company”) to 20.11 percent of the total share capital as of today and intends to accept Knorr-Bremse AG’s (“Knorr-Bremse”) tender offer at SEK 125 in cash per share for its entire remaining stake. ZF previously held 21.67 percent in Haldex and as such is Haldex’s largest shareholder.
ZF has been and continues to be committed to creating favourable conditions for the Company and its business while protecting the interests of ZF and reducing its financial exposure. The intention to tender supports ZF’s aim of increasing stability for Haldex, its employees, and its customers.
ZF is staying true to its strategy 2025, aimed at meeting future megatrends of the industry, and will continue to invest in and expand ZF’s diverse product portfolio in the future.
For additional information please contact:
ZF Friedrichshafen contact for media and investors
Phone: +49 7541 772543
Mobile: +49 151 167 164 45
Contact for German media and additional contact for investors
CNC - Communications & Network Consulting
Mobile: +49 174 234 2808
Contact for Swedish media and investors
Fogel & Partners
Mobile: +46 722 044 750
Statements in this press release relating to future status or circumstances, including statements regarding future performance, growth and other trend projections as well as benefits of the Offer, are forward-looking statements. Forward-looking statements may generally, but not always, be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “intends,” “estimates,” “projects,” “targets,” “forecasts,” “seeks,” “could,” or the negative of such terms, and other variations on such terms or comparable terminology. Forward-looking statements include, but are not limited to, statements about the expected future business of Haldex resulting from and following the Offer by Knorr-Bremse. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of ZF and Haldex, including but not limited to the effect of changes in general economic conditions, the level of interest rates, fluctuations in product demand, competition, technological change, employee relations, planning and property regulations, natural disasters and the potential need for increased capital expenditure (such as resulting from increased demand, new business opportunities and deployment of new technologies). Any such forward-looking statements speak only as of the date on which they are made and neither ZF nor Haldex has (or undertakes) any obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except for in accordance with applicable laws and regulations.
The figures reported in this press release have been rounded off as appropriate.