DMG Mori AG executive board agrees on compensation for minority shareholders

DMG MORI

27/05/2016 19:05

FRANKFURT, May 27 (Reuters) - The executive board of German 
machine tool maker DMG Mori AG  GILG.DE  agreed on Friday to 
compensation of 37.35 euros  ($41.51) per share for its 
remaining, roughly 24 percent minority shareholders, paving the 
way for full ownership by Japanese DMG Mori Co.  6141.T . 
    DMG Mori Co. Ltd, which currently holds 76.03 percent of DMG 
Mori AG's shares, is pushing for a profit transfer agreement 
which would allow the Japanese to control the German company's 
strategy and access its profits. 
    Minority shareholders would have to be compensated, however, 
and DMG Mori AG's executive board agreed at a meeting on Friday 
to an amount of 37.35 euros per share for remaining share 
holders, as stipulated by German financial watchdog Bafin. 
    The agreement is not binding until shareholders agree to it 
at the company's annual general meeting, planned for July 15. 
($1 = 0.8997 euros) 
 
 (Reporting by Tina Bellon; editing by Adrian Croft) 
 ((Tina.Bellon@thomsonreuters.com;)) 
 
Keywords: DMG MORI DOMINATION AGREEMENT/