By Maitane Sardon
German space and technology group OHB has confirmed that it has received a voluntary takeover bid from US investment company KKR. In response to this bid, OHB has announced plans to seek delisting from the stock exchange.
Under the terms of the bid, investors will receive 44 euros ($48.45) in cash per share, which represents a premium of 36.6% to the closing price on Friday. This deal values OHB at EUR764.3 million, according to share-count data provided by FactSet.
The Fuchs family, who are currently majority shareholders, will retain their position and Marco Fuchs will continue to serve as the company's Chief Executive Officer. The executive and supervisory boards have shown their support for this deal.
As part of the agreement, KKR intends to carry out a 10% capital increase at the offer price. Furthermore, KKR plans to invest EUR30 million in OHB's subsidiary, Rocket Factory Augsburg, through convertible instruments.
Chief Executive Marco Fuchs emphasized the significance of this collaboration for European security and sovereignty in space. He stated, "Strengthening OHB as an independent, European company and partner for governments and institutions strengthens European security and sovereignty in space."