Industry News

Degussa Sets Cash Compensation for Goldschmidt Minority Shareholders

Published on 2002-05-06. Author : SpecialChem

Degussa AG, Dusseldorf, Germany, which currently holds 97.71 percent of the capital stock of Goldschmidt AG, Essen/Germany, has set the amount it will be paying for the transfer of the remaining Goldschmidt shares (so-called "squeeze out" process) at EUR 25.23 per share. The amount has been determined on the basis of a business valuation performed by Wollert-Elmendorff Deutsche Industrie-Treuhand GmbH Wirtschaftsprüfungsgesellschaft, Hanover, Germany.

It is intended to adopt the necessary resolution at the Annual General Meeting of Goldschmidt AG on June 26, 2002.

Degussa is an entirely newly formed, multinational corporation consistently aligned to highly profitable specialty chemistry. With sales of EUR12.9 billion and a workforce of some 53,400, it is Germany's third-largest chemical company and world market leader in specialty chemicals. In fiscal 2001, the corporation generated operating profits (EBITA) of more than EUR1 billion. Degussa's core strength lies in highly effective system solutions tailored to the requirements of its customers in over 100 countries throughout the world. Its activities are led by the vision "Everybody benefits from a Degussa product - every day and everywhere".

Source: Degussa AG

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