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G&D buys secunet stake

10 July 2009  |  1499 views  |  0 Source: Giesecke & Devrient

Majority shareholder Giesecke & Devrient (G&D) is purchasing a share package of 26.4 percent in secunet Security Networks AG from RWTÜV AG.

G&D and RWTÜV AG have agreed a price of EUR 5.70 per share, amounting to a total of EUR 9.8 million. G&D will therefore hold a 76.4-percent stake in secunet Security Networks AG. In conjunction with this acquisition, G&D is announcing a voluntary public offer to the remaining shareholders for purchase of the remaining shares at the same price of EUR 5.70 each.

RWTÜV AG has decided to sell its minority stake of 26.4 percent in secunet Security Networks AG, headquartered in Essen, Germany, in accordance with the preferential purchase rights held by G&D. At the same time, G&D will be extending an offer to the remaining shareholders for the rest of the secunet shares, currently in free float.

secunet is a specialist in high-security IT solutions, with international enterprises and public authorities among its customers. IT security technology is a strategic business field for G&D. Acquiring this share package will allow the Munich-based company to strengthen its foothold and continue expanding its excellent market position in this segment.

G&D acquired the majority stake of 50 percent plus one share in February 2004 from RWTÜV AG and T-Systems. Since then, secunet Security Networks AG has performed extremely well, generating sales of around EUR 52 million last fiscal year.

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