DGAP-Adhoc: Loewe AG: Sale of significant parts of Loewe to German group of investors

| Source: EQS Group AG EQS Group AG 

Loewe AG  / Key word(s): Miscellaneous

16.01.2014 19:32

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Kronach - January 16, 2014 - A group of investors comprised of German
family-business entrepreneurs and former Apple and Bang & Olufsen senior
managers and the Executive Board of Loewe AG have today reached an
agreement to acquire significant parts of Loewe by way of an asset deal.
Thus, continuity of the Loewe traditional brand in German hands has been
secured. Alongside the new corporate head office in Munich, the development
centres in Kronach and Hanover, as well as central business functions at
the main site in Kronach, will also remain in place. A strong focus on
advanced home entertainment and digital lifestyle products as well as the
expansion of the strategic partnership with Chinese technology supplier
Hisense are part of the new owners' future strategy. The amount of the
agreed purchase price was not disclosed. Following the transaction, Loewe
AG shall be delisted and liquidated in due time.


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Information and Explaination of the Issuer to this News:

Contact (Loewe AG):

Christoph Möller
phone: +49 (0)221 80 10 87-87
email: cm@moeller-pr.de

Contact (Acquirer):

Ursula Querette, Stockheim Media GmbH
phone: +49 (0)89 3090 5189 22
email: uq@stockheim-media.com

16.01.2014 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Loewe AG
              Industriestrasse 11
              96317 Kronach
              Germany
Phone:        +49 (0)9261 99-984
Fax:          +49 (0)9261 99-994
E-mail:       ir@loewe.de
Internet:     www.loewe.de
ISIN:         DE000A1X3W34
WKN:          A1X3W3
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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