Company Announcement No. 255, 2011
Copenhagen, Denmark, 2012-03-14 19:02 CET (GLOBE NEWSWIRE) --
The correction concerns the date for approval and announcement of the Annual
Report for 2011, which will take place tomorrow, 15 March 2012.
H+H International A/S
Dampfærgevej 3, 3rd Floor
2100 Copenhagen Ø
Denmark
Telephone: +45 35 27 02 00
www.HplusH.com
The German competition authority prohibits a merger between Xella International
Holdings S.à.r.l. and H+H International A/S
On its own initiative and without the involvement of H+H International A/S
(“H+H”), Xella International Holdings S.à.r.l.’s (“Xella”) submitted a
pre-merger notification with H+H to the relevant competition authorities in the
EU and Germany (due to the European Commission’s referral of the German part of
the matter to the German competition authority (“Bundeskartellamt”)). Reference
is made to prior company announcements.
During the evaluation period an offer for commitments submitted by Xella to try
to counter the negative competitive consequences in relation to a merger was
rejected by the Bundeskartellamt.
Today, the Bundeskartellamt has issued a decision in relation to Xella’s
notification whereby the Bundeskartellamt prohibits a possible merger between
Xella and H+H within the German market.
Xella may appeal the decision by the Bundeskartellamt by bringing the decision
before Oberlandesgericht Düsseldorf (Düssesdorf Higher Regional Court).
Regardless of a potential appeal from Xella, H+H will continue to pursue its
strategy on a stand-alone basis.
After rejecting Xella’s contemplated takeover offer in November 2010, the Board
of Directors embarked on a turnaround process for H+H which is now well under
way, and in the Annual Report for 2011 to be approved and announced tomorrow,
15 March 2012, the progress on the implementation of the strategy together with
new financial objectives are further explained.
Anders C Karlsson
Chairman of the Board of Directors
For additional information please contact:
Chairman of the Board of Directors Anders C Karlsson. Telephone +33 687 88 55 85
This is a translation of the company's announcement in Danish. In case of
inconsistency between the Danish text and this English translation, the Danish
text will take precedence.