DGAP-Adhoc: De Raj Group AG: Major shareholders sell 65 % of the company
DGAP-Ad-hoc: De Raj Group AG / Key word(s): Agreement/Offer
De Raj Group AG: Major shareholders sell 65 % of the company
25-May-2020 / 18:29 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
De Raj Group AG, Cologne, ISIN DE000A2GSWR1, Symbol: DRJ: The major shareholders of De Raj Group AG, members of the De Raj family, have just informed the company and announced that they have sold their 65 % shareholding in the company. The share purchase agreement has been signed today.
The buyer is Standard Paper & Board Singapore Pte. Ltd, a privately held company based in Singapore. It will acquire the 22.75 m shares previously held by Alexander, Nicholas and Renata De Raj and by Nagendran Nadarajah. The buyer is managed and controlled by Mr. Yennarkay R Chiranjeevi Rathnam from Standard Fire Works Group, a large industrial conglomerate from South India.
The purchase of the De Raj family shares triggers a mandatory public offer to the outside shareholders of De Raj Group AG. Details will be announced in the coming days.
With this acquisition, Standard Paper & Board Singapore Pte. Ltd is implementing its plans to expand its business activities in the field of renewable energy, which De Raj Group recently expanded in many different countries. The entry of the new shareholder will enable De Raj Group to leverage its resources for further growth.
Contact:
Vaidyanathan Nateshan
Board Member
Tel.: +49 221 95937026
25-May-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
End of Announcement DGAP News Service
1054937 25-May-2020 CET/CEST