Straumann purchases approx. 530 000 own shares from GIC for CHF 200m

 
  • Group seizes opportunity to secure share package as second largest shareholder reduces stake from 14% to less than 5%
     
  • Straumann increases strategic flexibility
     
  • Accelerated book-building offering successfully completed overnight, reflecting good demand for shares
     
 

Basel, 31 August 2016 – Straumann’s second largest shareholder, GIC Private Limited, (GIC), Singapore’s sovereign wealth fund, has reduced its stake in Straumann Holding AG from 14% to less than 5%. The respective 1.4 million shares have been placed with institutional investors and Straumann through an accelerated book-building offering, which was launched after the Swiss Exchange closed yesterday and has already been successfully completed. J.P. Morgan Securities plc. was the bookrunner.

 

GIC became a major shareholder in Straumann Holding AG in 2012, when it increased its stake from 4% to 14%.

 

Straumann quick to participate

As part of the offering, Straumann has been allocated approx. 530 000 shares for a total consideration of CHF 200 million corresponding to an additional 1% discount to the shares placed with the market.

 

Gilbert Achermann, Chairman of the Board of Directors, explained: “This is a good opportunity for us to secure a significant number of shares and to hold them as Treasury stock with strategic flexibility for various options – including the possibility of adding a further anchor shareholder to the Group, and/or a potential reduction in the share capital”.

 

Excess liquidity used to finance purchase

Straumann’s ability to generate strong cash flows has enabled it to build a cash position of more than CHF 300 million, despite recent investments in acquisitions and growth initiatives. The Group will therefore use the majority of its current excess liquidity to finance the share purchase.

 

Conference call

Straumann will hold a conference call to answer questions from financial analysts and media at 10:30 Swiss time today; please see below for details.

 

 

About Straumann

Headquartered in Basel, Switzerland, Straumann (SIX: STMN) is a global leader in implant, restorative and regenerative dentistry. In collaboration with leading clinics, research institutes and universities, Straumann researches, develops and manufactures dental implants, instruments, prosthetics and biomaterials for use in tooth replacement and restoration solutions or to prevent tooth loss. Straumann currently employs approximately 3600 people worldwide and its products and services are available in more than 100 countries through its broad network of distribution subsidiaries and partners.

 

 
 

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