UK Markets open in 3 hrs 30 mins
  • NIKKEI 225

    29,161.71
    -93.84 (-0.32%)
     
  • HANG SENG

    26,167.84
    +31.82 (+0.12%)
     
  • GOLD FUTURES

    1,786.10
    +1.20 (+0.07%)
     
  • DOW

    35,609.34
    +152.04 (+0.43%)
     
  • BTC-GBP

    46,747.57
    +294.78 (+0.63%)
     
  • CMC Crypto 200

    1,526.54
    +45.74 (+3.09%)
     
  • Nasdaq

    15,121.68
    -7.42 (-0.05%)
     
  • ^FTAS

    4,118.78
    -0.40 (-0.01%)
     

Sales negotiations for stake in Voltabox concluded

  • Oops!
    Something went wrong.
    Please try again later.
·3-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

DGAP-News: paragon GmbH & Co. KGaA / Key word(s): Disposal
30.09.2021 / 18:32
The issuer is solely responsible for the content of this announcement.

Sales negotiations for stake in Voltabox concluded

- Negotiations with investors successful - waiting for official exemption

- Buyer of Voltabox U.S. Activities confirms deal - signing of contract expected in next few days

- Revenue in automotive business still on track despite chip shortage

Delbrück, Germany, September 30, 2021 - paragon [ISIN DE0005558696] has successfully concluded negotiations with investors concerning the sale of the financial stake in Voltabox AG. Only an official exemption decision is still pending on the part of the buyer. Upon its receipt, an already negotiated purchase agreement will be concluded between paragon and an acquisition entity. The company expects the contract to be signed in October 2021.

In the meantime, agreement has also been reached with the buyer of Voltabox's U.S. activities, to be sold separately, on all key contractual points, which means this contract should also be concluded in the next few days. The sale of the U.S. activities would also have been a condition for the completion of the sale of the shares in Voltabox AG.

"We were able to reach consensus with both the buyer of our stake in Voltabox and with the buyer of Voltabox's U.S. activities almost simultaneously. We are very happy to have now created almost all the conditions for a successful completion of the process," says Klaus Dieter Frers, founder and CEO of paragon.

Meanwhile, the direct supplier to international car manufacturers is satisfied with the business performance in the automotive business. Despite the chip shortage, sales are on target and the forecast of € 145 million in sales and an EBITDA margin of 12% to 15% can be maintained.


Profile: paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. In addition, the Group holds a stake in Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M. and which is active in the electromobility segment with cutting-edge lithium-ion battery systems for industrial use developed inhouse. In the rapidly growing automotive market for battery systems and power electronics, paragon will operate on its own in the future.

In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech, Neu-Ulm and Nuremberg (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Bangalore (India), Oroslavje (Croatia) and Austin (Texas, USA).

Additional information about paragon can be found at www.paragon.ag.


Capital Market & Press Contact

paragon GmbH & Co. KGaA

Dr. Martin Esser
Bösendamm 11
33129 Delbrück, Germany
Phone: +49 (0) 52 50 - 97 62-200
Fax: +49 (0) 52 50 - 97 62-102
Email: investor@paragon.ag


30.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

paragon GmbH & Co. KGaA

Bösendamm 11

33129 Delbrück

Germany

Phone:

+49 (0)5250 97 62 - 0

Fax:

+49 (0)5250 97 62 - 60

E-mail:

investor@paragon.ag

Internet:

www.paragon.ag

ISIN:

DE0005558696, DE000A2GSB86,

WKN:

555869, A2GSB8,

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1237357


 

End of News

DGAP News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting