AGCO Announces Tender Offer for Acquisition of Kepler Weber S.A.
09 Febbraio 2017 - 11:25PM
Business Wire
Kepler Weber is a leader in the Brazilian Grain
Storage Market
Tender offer values Kepler Weber at $185
million
AGCO, Your Agriculture Company, (NYSE:AGCO), a worldwide
manufacturer and distributor of agricultural equipment, announced
its intention to launch a tender offer for the outstanding shares
of Kepler Weber S.A. (“Kepler Weber”), the leading Brazilian
manufacturer of grain storage and handling equipment. AGCO has
reached a binding agreement with the two largest shareholders of
Kepler Weber, Caixa de Previdência dos Funcionários do Banco do
Brasil and BB - Banco de Investimento S.A., to acquire their blocks
of shares totaling approximately 35% of the outstanding shares.
AGCO intends to launch a tender offer to acquire up to all of
the common shares held by the other shareholders for purpose of
delisting Kepler Weber shares from the São Paulo Stock Exchange.
The price of the Offer will be BRL 22.00 (US $7.03) per share,
valuing Kepler Weber at BRL 578.9 million (US $185M). This price
per share represents a 25.7% premium to the closing price of
February 9, 2017 and a 24.3% premium to the 3-month average share
price of Kepler Weber. The Offer and the consummation of the
transaction are subject to customary conditions and regulatory
approvals.
“The acquisition of Kepler Weber would significantly enhance our
market position in the South American grain handling and storage
industry,” said Martin Richenhagen, AGCO’s Chairman, President and
Chief Executive Officer. “Kepler Weber’s products are complementary
to our GSI’s offerings and are recognized by its customers for
their design, quality and innovation. This combination would also
provide significant marketing synergies and a leadership position
in the South American market as well as further strengthen our
capabilities to serve large global customers.”
Rabobank is acting as financial advisor to AGCO and Pinheiro
Neto Advogados is serving as legal advisor.
Safe Harbor Statement
Statements which are not historical facts, including
expectations regarding the closing of the acquisition are
forward-looking and subject to risks that could cause actual
results to differ materially from those suggested by the
statements. These risks include, but are not limited to, the
failure to obtain regulatory approvals, the failure to satisfy
closing conditions and the possibility that there will be a
competitive offer at a higher price. AGCO disclaims any obligation
to update any forward-looking statements except as required by
law.
About AGCO:
AGCO (NYSE: AGCO) is a global leader in the design, manufacture
and distribution of agricultural solutions and supports more
productive farming through its full line of equipment and related
services. AGCO products are sold through five core brands,
Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, supported
by Fuse® precision technologies and farm optimization services, and
are distributed globally through a combination of approximately
3,050 independent dealers and distributors in more than 150
countries. Founded in 1990, AGCO is headquartered in Duluth, GA,
USA. In 2016, AGCO had net sales of $7.4 billion. For more
information, visit http://www.AGCOcorp.com. For company news,
information and events, please follow us on Twitter: @AGCOCorp. For
financial news on Twitter, please follow the hashtag #AGCOIR.
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AGCOGreg Peterson, 770-232-8229Director, Investor
Relationsgreg.peterson@agcocorp.com
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