TRATON SE / Key word(s): Squeeze Out
TRATON SE: TRATON SE resolves to implement a merger squeeze-out of the minority shareholders of MAN SE
28-Feb-2020 / 20:33 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.
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TRATON SE resolves to implement a merger squeeze-out of the minority shareholders of MAN SE
Munich, 28 February 2020 - TRATON SE intends to merge MAN SE as transferring entity into TRATON SE as receiving entity in order to streamline the overall group structure of TRATON GROUP. In connection with the merger of MAN SE into TRATON SE, TRATON SE intends to implement the procedure for transferring the shares of the minority shareholders of MAN SE to TRATON SE against a reasonable cash compensation (merger squeeze-out pursuant to section 62(5) of the German Transformation Act (Umwandlungsgesetz, UmwG) in conjunction with sections 327a(1) of the German Stock Corporation Act (Aktiengesetz, AktG)). The executive board of TRATON SE, with the approval of the supervisory board of TRATON SE and the Boards of Volkswagen AG, has adopted the corresponding resolutions today.
The executive board of TRATON SE today submitted to the executive board of MAN SE a proposal to enter into negotiations on a merger agreement and a formal request to initiate the procedure for implementing a merger squeeze-out.
TRATON SE currently holds 94.36 % of the share capital of MAN SE and is therefore its majority shareholder within the meaning of section 62(5) UmwG in conjunction with section 327a(1) AktG. The amount of the reasonable cash compensation that TRATON SE, as majority shareholder, will grant to the minority shareholders of MAN SE for the transfer of the shares has not yet been determined.
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