Rheinmetall plans takeover of Norway's Simrad Optronics ASA, offering NOK 8.25 per share
05/06/2010
Rheinmetall AG of Düsseldorf, Germany, reached an agreement in the evening of 5 May 2010 with Simrad Optronics ASA of Nøtterøy, Norway, under which the German company will make a voluntary cash offer for 100% of the shares of Simrad Optronics. Simrad Optronics ASA is listed on the Oslo stock exchange.
Rheinmetall plans to offer a cash consideration of NOK 8.25 (approx. € 1.05) per share, valuing the total share capital of Simrad Optronics at approximately NOK 591 million (approx. € 75.4 million). The Simrad Optronics Board of Directors has recommended to its shareholders to accept the offer.
About Simrad Optronics ASA
Simrad Optronics ASA is a global supplier of components for remote control weapon stations; electro-optical instruments; and weapon system upgrades. The company has some 200 employees and is headquartered in Nøtterøy, Norway. Its sales last year came to roughly NOK 624 million (approx. € 80 million).
About Rheinmetall AG
Rheinmetall AG serves the global automotive and defence technology markets. The Group's Defence arm specializes in vehicle systems, weapons and ammunition, air defence, propellants, defence electronics as well as simulation and training technology. Its 9,300-strong workforce generated sales in 2009 of approximately
€ 1.9 billion.
Contact
Rheinmetall AG
Corporate Sector Defence
Press and Information
Oliver Hoffmann
Rheinmetall Platz 1
40476 Düsseldorf
Germany
Phone: +49 211 473-4748
Fax: +49 211 473-4157
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