Bloomberg News

B&C Partners With Oberbank to Support Metal Maker AMAG

January 07, 2013

B&C Industrieholding GmbH, the investment vehicle of an Austrian non-profit foundation, and Oberbank AG (OBS), said they will combine their holdings in AMAG Austria Metall AG (AMAG) to support the aluminum products maker.

B&C and Oberbank will own 35 percent of AMAG after merging their respective 29.99 percent and 5.01 percent stakes, the companies said in separate statements today. B&C said it plans to offer AMAG investors 20.81 euros ($27.28) a share plus their dividend for 2012 as raising its stake to more than 30 percent will trigger a compulsory offer.

The investment vehicle doesn’t intend to acquire all shares and said a “meaningful” number will remain in circulation after its offer, which will probably be made in March or April, according to Vienna-based B&C’s statement.

B&C and Austrian lender Oberbank said they want to support AMAG’s growth as “long-term core investors” and secure AMAG’s facility in the Austrian town of Ranshofen on the German border.

AMAG shares rose 0.1 percent to close at 24.60 euros in Vienna trading.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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