OHB on Monday announced a voluntary public tender offer by US investment company KKR for all outstanding shares in the German space technology company, with the Fuchs family to retain permanent control of the company.
Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photoon Monday announced a voluntary public tender offer by US investment company KKR for all outstanding shares in the German space technology company, with the Fuchs family to retain permanent control of the company.
The Fuchs family would remain majority shareholders, with Marco Fuchs as CEO and the existing management team to continue leading the company. "Strengthening OHB as an independent, European company and partner for governments and institutions strengthens European security and sovereignty in space," Fuchs said in a statement, adding that the deal with KKR as minority investor would support its long-term growth.
As part of the deal, KKR is to invest 30 million euros in OHB subsidiary Rocket Factory Augsburg AG through convertible instruments.Writing by Rachel More Editing by Miranda Murray
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
D.C.-area forecast: Decent summertime weekend ahead of Monday storm threatGenerally seasonable conditions, with lower humidity again today. A weak cold front sets up renewed storm risks as it approaches.
Read more »
Trump ordered to respond to DOJ request for protective order by MondayA federal judge ordered former President Trump to respond to Special Counsel Jack Smith’s request for a protective order.
Read more »
Gov. Greg Abbott in Denton Monday for 'Save Women's Sports Act' ceremonyGovernor Greg Abbott will be in Denton on Monday to hold a ceremonial signing of a bill that forces college athletes in the state to compete in sports based on their sex at birth.
Read more »
First Alert Weather: Bright & sunny Sunday before Red Alert for threat of severe storms on MondayWeather: Sunday will begin bright and sunny. By the evening, a few more clouds will come into play, as well as increasing humidity levels.
Read more »
Colorado gun law raising age to purchase gun to 21 set to take effect MondayA Colorado gun reform law going into effect Monday will prohibit people under 21 years old from purchasing a gun. It is one of many new laws sweeping gun reform measures.
Read more »
First Alert Forecast: Gorgeous weekend continues, then severe storms roll in MondayFirst Alert Weather: Our gorgeous weekend continues, but we're tracking some severe storms on Monday. Watch SteveSosnaWX's full forecast.
Read more »