EANS-Adhoc: XAC is new majority owner of FACC AG

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XAC is new majority owner of FACC AG

. A strong and committed owner to support the further profitable  growth  of
      FACC AG

    . Position as development and system supplier will be strengthened

    . A significant capital share increase underpins future business development

    . Committed to maintain operations in Austria 

Ried, Beijing, October 3, 2009 - Today the stockholders of Austria's leading aviation supplier FACC AG ("FACC") and Xi'an Aircraft Industry (Group) Company Ltd. ("XAC") have signed an agreement relating to the acquisition of the majority of shares in FACC by XAC. Upon completion of the acquisition, 91.25% of the shares of FACC AG will be held by XAC, 5% will remain in possession of the Austrian holding company ACC Kooperationen und Beteiligungen GmbH and 3.75% will be retained by Stephan Ges.m.b.H. The transaction which is subject to customary regulatory approvals is expected to be finalized by the end of the fourth quarter of 2009. After the completion of the acquisition, a share capital increase will be carried out, raising shareholders' equity from the current 40 million Euros up to no less than 80 million Euros. This primary equity capital raising will assure the planned business development of FACC.

Ende der Mitteilung                               euro adhoc

Further inquiry note:

Dr. Bernhard Matzner
Chief Financial Officer/FACC AG
Tel. 059-616-1324

Branche: Industrial Components
ISIN: AT0000A05TW8
Börsen: Wien / Regulated free trade

Original-Content von: FACC AG, übermittelt durch news aktuell

Weitere Meldungen: FACC AG

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