DBAG increases Homag stake
Deutsche Beteiligungs AG (DBAG) has increased its stake in listed German portfolio company Homag Group AG from 33.1% to 39.5%.
The listed GP and its co-investment funds bought the extra shares from the Wehrmann family. DBAG will hold a 21.1% stake following the transaction alongside its funds, which will own 19.4% of the company. The GP paid €12.06 per share for this latest transaction.
DBAG first invested in Homag in 1997, before listing the company in 2007. The GP has enjoyed a positive return on its investment to date, following the €214m flotation and dividend payouts.
The GP expects its previous disagreements with the Schuler-Klesmann shareholder pool to be resolved in time, it said in a statement. DBAG and Schuler-Klesmann are the two largest shareholders in the business.
Company
Schopfloch-based Homag is a manufacturer of woodworking machinery for the furniture and construction supplies industries. The company had a turnover of €798.7m in 2011 and an operating EBITDA of €70.5m. It employs 5,110 people.
People
Wilken von Hodenberg is the spokesman of DBAG's board of management.
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