Clearances received for the Joint Venture between Metall Zug and Miele
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Metall Zug AG / Key word(s): Joint Venture Ad hoc announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange Zug, June 5, 2024 – The respective relevant authorities have given their clearance for the Joint Venture between Metall Zug and Miele. The closing is planned for June 7, 2024. After this date, the Joint Venture will commence its operational activities. As communicated on November 28, 2023, Metall Zug and Miele have signed an agreement under which Metall Zug will contribute its Infection Control Business Unit and the Belimed Life Science Group, and Miele its Steelco Group, into a newly established Joint Venture based in Zug, Switzerland. Metall Zug will participate with 33% and Miele with 67% in the Joint Venture. The closing of the Joint Venture was subject to the clearance of the respective relevant authorities. These clearances have now been granted, so that the closing is expected to take place on June 7, 2024, and will be communicated on June 10, 2024. The Infection Control Business Unit and the Belimed Life Science Group (part of the Reporting Segment Others) will be fully consolidated in the consolidated financial statements of the Metall Zug Group until the closing. After that, Metall Zug AG's share of the Joint Venture's net result will be reported in the financial result. About the Metall Zug Group
The holding company Metall Zug AG is listed in the Swiss Reporting Standard of SIX Swiss Exchange in Zurich (type B registered shares: securities number 3982108, ticker symbol METN). Legal Notes
or: investorrelations@metallzug.ch This announcement is available at https://www.metallzug.ch/en/medien/medienmitteilungen. End of Inside Information |
1918083 05-Jun-2024 CET/CEST
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