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Klöckner & Co ready for listing on the stock exchange
Duisburg (ots) - The steel and metal distribution company, Klöckner & Co AG, is aiming for a listing on the Prime Standard of the Frankfurt Stock Exchange before the summer break. This will be subject to a favourable capital market environment. "We have thoroughly examined this step. A direct access to the capital market opens up additional flexibility for the future development of our company", said the Chairman of the Management Board Dr. Thomas Ludwig. The private equity firm Lindsay Goldberg & Bessemer (LGB) plans to keep approx. 50 % of the shares after the IPO.
The company will provide additional details on its IPO plans at a later date.
About Klöckner & Co:
Klöckner & Co is the largest producer-independent steel and metal distributor in the European and North American markets combined. The core business of the Klöckner & Co Group is the storage and distribution of steel and non-ferrous metals. About 200,000 active customers are supplied through approximately 240 distribution locations in 14 countries in Europe and North America.
Klöckner & Co was founded 100 years ago by Peter Klöckner. During the financial year 2005 the company achieved sales of approx. 5 billion Euros with around 10,000 employees. Klöckner & Co AG is controlled 100 per cent by Lindsay Goldberg & Bessemer (LGB).
Contacts: Peter Ringsleben, Claudia Uhlendorf - Corporate communication
Klöckner & Co AG Am Silberpalais 1 47057 Duisburg
Claudia Uhlendorf Tel: +49-203-307-2289 Fax: +49-203-307-5103 Email: firstname.lastname@example.org
These materials are not for distribution, directly or indirectly, in or into the United States (including its territories and outlying areas, any State of the United States and the District of Columbia). These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities. The shares in Klöckner & Co AG (the "Shares") mentioned herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Shares have not been, and will not be, registered under the Securities Act and will not be publicly offered anywhere outside Germany. The public offer in Germany will be made exclusively by means of and on the basis of a prospectus to be published. The securities prospectus will be available free of charge at a date yet to be specified.
This press release does not constitute an offer of securities to the public in the United Kingdom. This press release is directed only at (i) persons who have professional experience in matters relating to investments and who fall within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Order or to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons") or in circumstances in which section 21 of the FSMA does not apply to the Company. Any person who is not a relevant person must not act or rely on this communication or any of its contents. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.Original-Content von: Klöckner & Co SE, übermittelt durch news aktuell