DGAP-Adhoc: Loewe AG: Stargate Capital is to acquire Loewe

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| Source: EQS Group AG
Loewe AG  / Key word(s): Acquisition

21.03.2014 22:47

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 - March 21, 2014: Loewe AG has today signed a notarial sale and
purchase agreement with Munich-based investors Stargate Capital GmbH in
respect of all business operations of Loewe AG and Loewe Opta GmbH. The
acquirer will maintain these business operations at the site in Kronach -
including production - as a going concern. The deal is due to be completed
at the beginning of April this year. The purchase price is in the higher
single-digit millions of euros; of this total, a six-digit amount will be
included in the insolvency estate assets of Loewe AG, while the remaining
amount will form part of the insolvency estate assets of Loewe Opta GmbH.
The purchase price will not be sufficient to fully satisfy the claims of
all insolvency creditors; no payment will be made to the shareholders.
Payment of the purchase price and funding of the ongoing business
operations by the acquirer and the banks involved are fully secured.


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Information and Explaination of the Issuer to this News:

Contacts:
Loewe AG
Industriestrasse 11
96317 Kronach
Germany

Dr. Roland Raithel, Public Relations
Tel:   +49 (0)9261 99217
Fax:   +49 (0)9261 99994
Email: roland.raithel@loewe.de

21.03.2014 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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