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40 North will acquire a participation of c. 29.1% of the shares in Braas Monier Building Group S.A.


Braas Monier Building Group S.A. / Key word(s): Miscellaneous
14.05.2016 01:09

Dissemination of a Ad-hoc-correction according to ยง 15 WpHG, transmitted by DGAP - a service of EQS Group AG.
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40 North will acquire a participation of c. 29.1% of the shares in Braas Monier Building Group S.A.

Luxembourg, 14 May 2016. Braas Monier Building Group S.A. has been informed by Monier Holdings S.C.A., its major shareholder, that Monier Holdings S.C.A. has agreed with 40 North Management LLC ("40 North"), a privately- held investment firm and affiliate of Standard Industries Inc., to sell a participation of c. 29.1% of the shares in Braas Monier Building Group S.A. to an investment vehicle of 40 North. The transaction remains subject to merger control clearance in Austria and is targeted to close in the summer of 2016.

In the context of the acquisition, Messrs. Fabrice Nottin and Winston Ginsberg will step down as members of the Board of Directors of Braas Monier Building Group S.A. and the Board of Directors has agreed that Mr. David J. Millstone, Mr. David S. Winter and Ms. Kathleen G. Reiland will become members of the Board of Directors by way of cooptation. Messrs. Millstone and Winter are Co-Chief Executive Officers and Co-Chief Investment Officers of 40 North as well as Co-Chief Executive Officers and Co-Executive Chairmen of Standard Industries Inc. Ms. Reiland is Head of Mergers and Acquisitions at Standard Industries Inc.
Standard Industries Inc. is a privately-held, global, diversified holding company with interests in inter alia building materials. Its businesses include GAF, the largest roofing manufacturer in North America, and Icopal, the European leader in high-end commercial roofing products and waterproofing solutions.


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Language:     English
Company:      Braas Monier Building Group S.A.
              4, rue Lou Hemmer
              1748 Senningerberg
              Grand Duchy of Luxembourg
Phone:        
Fax:          
E-mail:       
Internet:     www.braas-monier.com
ISIN:         LU1075065190
WKN:          BMSA01
Indices:      SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart,               Tradegate Exchange
 
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