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AMAG Appreciates Changes in Shareholder Structure

Published: March 19, 2012; 17:55 · (Vindobona)

With B&C Industrieholding, the Austrian aluminum producer got a new major shareholder. RLB Upper Austria widens its share up to 16.44%.

AMAG Appreciates Changes in Shareholder Structure / Picture: © Vindobona.org

One Equity Partners, JPMorgan´s buyout subsidiary, sold its remaining stake in AMAG Austria Metall AG (AMAG) to B&C Industrieholding GmbH and Raiffeisenlandesbank Upper Austria last week.

B&C, which already owns shares in Lenzing AG, Semperit AG and Allgemeine Baugesellschaft Porr AG, agreed to buy a 29.9 percent stake in the Austrian aluminum maker, while RLB Upper Austria acquired 4.7 percent, boosting its holding to 16.44 percent, according to statements from the companies. The companies didn’t say how much they paid for the AMAG stakes. On the basis of AMAG’s closing share price on March 16, the stakes are valued at about € 233m.

B&C Chief Executive Officer Michael Junghans said last year that B&C, which is the investment vehicle of a non-profit foundation dedicated to “promote Austrian entrepreneurship,” was looking for a “fourth pillar” to complement its holding in Lenzing, Semperit and Porr. The transactions still have to be approved by the Austrian cartel authority.

The management board of B&C Industrieholding is satisfied with the change in its shareholder structure. “The strategy of B&C is focused on long-term growth of Austrian blue chip companies. As a long-term core shareholder, the shareholder aims for keeping headquarters in Austria and increasing competitiveness of its interests. Thus, the new shareholder´s targets are fully in line with our strategic targets and expansion programs.”

The long-term development and sustainable investment plans are supported by B&C, the management board adds. “We appreciate the decision and are confident regarding common future challenges.” CEO Gerhard Falch concludes.