GLADE MICHEL WIRTZ advises GEA on share buy-back program
16 August 2021
GLADE MICHEL WIRTZ advises the MDAX-listed industrial group GEA Group Aktiengesellschaft ("GEA") in connection with a share buy-back program which starts today and is expected to be completed by the end of 2022. GEA intends to acquire own shares with a value of up to EUR 300 million via the stock exchange.
GEA's Executive Board had resolved and announced the share buy-back program on 12 August 2021. The buy-back shall be carried out in two tranches. A first tranche with a purchase price of up to EUR 150 million will be carried out in the next six months through an independent investment bank.
The acquired shares can be used for all purposes approved by the Annual General Meeting on 19 April 2018, in particular as acquisition currency or as a stock dividend. There are currently no plans to cancel the shares.
About GLADE MICHEL WIRTZ
GLADE MICHEL WIRTZ, with currently 28 lawyers, specialises in the areas of Corporate & Competition. As a focused boutique law firm, GLADE MICHEL WIRTZ from Düsseldorf advises companies listed on the DAX30, MDAX or TecDAX, upscale medium-sized companies, which are often market and technology leaders in their sectors, as well as foreign, globally active groups and investors, both nationally and internationally, on corporate and partnership law, M&As, restructuring and reorganisation, antitrust law, in particular with respect to antitrust fine and merger control proceedings, corporate litigation and compliance issues.
The press release is available for download here: GLADE MICHEL WIRTZ advises GEA on share buy-back program