PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

AEG Power Solutions completes business combination with Germany1

AEG Power Solutions has completed its business combination with Germany1 Acquisition.

AEG Power Solutions has completed its business combination with Germany1 Acquisition.

AEG is now wholly owned by Germany1, which is listed on Euronext and trading under the ticker GAL1S.

This transaction marks the beginning of a transformation of AEG from private ownership to a publicly traded company.

AEG provides mission critical power control and power systems to selected end markets such as power generation, oil and gas or the solar energy industry. It will provide further communication and guidance in the coming weeks including the publication of a reporting calendar and trading update, consistent with publicly listed companies.

AEG’s board of directors consists of executive members Bruce Brock and Robert Huljak and non-executive members Professor Roland Berger as chairman, Professor Mark Wössner, Timothy Collins, Leonhard Fischer and Keith Corbin.

At closing and in accordance with the acquisition agreement, the total number of issued and outstanding shares was 47,742,511 taking into effect the issuance of 19,208,931 convertible shares and the estimated redemption of 2,716,420 shares. Investors redeeming their shares will receive a cash consideration of EUR10.08 per share. In addition, there are 31,000,000 warrants issued and outstanding which can be exercised following the completion of business combination at an exercise price of EUR7.50.

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured