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METAIR INVESTMENTS LIMITED - Voluntary announcement: Acquisition by Metair of an interest in Akkumulatorenfabrik Moll GmbH & Co. KG

Release Date: 04/07/2017 07:05
Code(s): MTA     PDF:  
Wrap Text
Voluntary announcement: Acquisition by Metair of an interest in Akkumulatorenfabrik Moll GmbH & Co. KG

METAIR INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1948/031013/06
JSE share code: MTA
ISIN: ZAE000090692
(“Metair”)

VOLUNTARY ANNOUNCEMENT: ACQUISITION BY METAIR OF AN INTEREST IN AKKUMULATORENFABRIK MOLL GMBH & CO. KG

Introduction

Shareholders are advised that Metair, through its wholly owned subsidiaries, has concluded an
acquisition of a 25.10% shareholding in Akkumulatorenfabrik Moll GmbH & Co. KG (“Moll”) in Bad
Staffelstein, Germany (“Acquisition”) for a total cash consideration of €7.425 million (“Purchase
Consideration”).

Following the Acquisition, the equity shareholding of Moll comprises the following:

•      Moll-Mohrstedt Family: 39.66%
•      Leadnew Limited, a subsidiary of Chaowei Power Holdings Limited (“Chaowei”), Hong Kong:
       34.46%
•      Metair Investments Limited (held through its wholly owned subsidiaries): 25.10%
•      Moll Beteiligungs GmbH: 0.78%

Background information and rationale

Moll

The Moll group is a renowned German battery supplier to the automotive industry. Moll manufactures
exclusively at its site in Bad Staffelstein, Germany, and supplies European car manufacturers such as
Audi, Daimler, Porsche, Skoda, SEAT, Lamborghini, Liebherr and Volkswagen.

Chaowei

Chaowei is a Chinese company listed on the Hong Kong Stock Exchange. Chaowei is the largest
producer of lead-acid e-bike batteries in China, with annual production capacity in excess of 140 million
batteries.

The investment in Moll, with Chaowei as a partner, gives Metair access to the important Chinese market
through Moll’s interest of a 5% shareholding in Chaowei’s Greenfields automotive production facilities
in China that is in the process of being finalised.

Categorisation

The Purchase Consideration falls below the threshold for categorisation in terms of the JSE Limited
Listings Requirements. Accordingly, this announcement is provided to shareholders for information
purposes only.


4 July 2017
Johannesburg

Sponsor
One Capital

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