Dematic in talks with SDI Group over possible acquisition
The board of Dematic has been in discussions with the shareholders of FSU Investments and the board of SDI Group regarding a possible acquisition of FSU.
FSU has a 75% stake in SDI Group.
Dematic believes that the acquisition of SDI would be complementary and would expand Dematic’s product offerings and ability to service its customers globally.
If Dematic was to acquire FSU a mandatory offer would be required to be made by Dematic for the remaining shares in SDI not already held by FSU pursuant to Rule 9 of the City Code on Takeovers and Mergers (the “Code”).
Dematic has noted the development is not an announcement of a firm intention to make an offer under Rule 2.7 of the Code.
SDI and Dematic both have operations in Germany and so any acquisition of FSU by Dematic will be conditional, among other things, on the advance clearance of the transaction by the Bundeskartellamt, the German competition authority.
Dematic intends to submit an application to the Bundeskartellamt for such clearance in advance of entering into any agreement to acquire FSU. SDI shareholders should note that there is no certainty that Dematic will complete any acquisition of FSU even if clearance of the transaction is granted by the Bundeskartellamt.
In accordance with Rule 2.10 of the Code, SDI confirms that as at the date of this announcement, it has in issue 109,273,078 ordinary shares of one pence each. The International Securities Identification Number (ISIN) of the ordinary shares is GB00B1YW3F48.
In accordance with Rule 30.4 of the Code, a copy of this announcement will be made available on SDI’s website at www.SDIgroup.com/announcements.
Further announcements will be made in due course.
