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Ouborg Group to sell 51% stake in Princess Holding to WMF

Posted on: Thu, 26 Nov 2009 14:14:00 EST

Symbols: WMFWF

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Nov 26, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
WMFWF | Quote | Chart | News | PowerRating -- Ouborg Group BV has agreed to sell a 51% stake in Princess Holding BV, a producer of stainless steel household appliances, to WMF Wuerttembergische Metallwarenfabrik Aktiengesellschaft, a Germany-based provider of tableware and solutions for the kitchen. Ouborg and Princess are based in the Netherlands.

Ouborg Group is an investment holding company engaged in manufacturing, selling, importing and exporting domestic appliances as well as beauty care products.

Pursuant to the transaction, WMF has an option to acquire the remaining 49% stake in Princess Holding early 2012.

Ouborg Group will retain some activities such as the Princess Entertainment Group, the Princess Sports Group and the Princess Hotels.

The transaction will effective from January 1, 2010.

Deal Type    Acquisition
Sub-Category Majority Acquisition
Deal Status  Announced: 2009-11-26

Deal Participants

Target (Company)   Princess Holding BV
Acquirer (Company) WMF Wuerttembergische Metallwarenfabrik Aktiengesellschaft
Vendor (Company)   Ouborg Group BV

Deal Rationale

The acquisition will enable WMF to strengthen its business in the field of small household appliances.

% Acquisition 51%

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