MUNICH – Katek will enter into a delisting agreement with Kontron following Kontron's acquisition of a controlling stake in the company earlier this year.

In January, Kontron announced the acquisition of 59.4% of Katek's shares by its subsidiary, Kontron Acquisition, which is obliged to make a mandatory offer to the shareholders of Katek SE in the coming weeks in accordance with the provisions of the German Securities Acquisition and Takeover Act.

Katek's board has decided that the conclusion of the delisting agreement and the delisting are in the interests of the company – based in particular on the fact that the stock market listing has lost its significance, and the delisting is therefore advantageous from a strategic and financial perspective, the company said in a release.

As part of the intended delisting agreement, Katek is to submit an application for revocation of the admission of its shares to the regulated market following publication of the mandatory offer by Kontron Acquisition, which is also to be structured as a delisting tender offer.

Conversely, Kontron Acquisition is to offer the Katek shareholders a consideration in accordance with the statutory minimum price rules as part of this offer. Kontron Acquisition had already announced in its control notification that the price offered in the context of this offer would be EUR15 per Katek share. In addition, Kontron Acquisition is also working on an exchange offer with shares of Kontron AG, its listed parent company, which will be open to Katek shareholders as an alternative.

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