Pfeiffer Vacuum soars as largest shareholder wants to take control

Pfeiffer Vacuum Technology AG

07/11/2022 07:54

** Shares in Pfeiffer Vacuum  PV.DE  soar 15% in early
Frankfurt trade after the German vacuum pump maker said its
largest shareholder Pangea's intends to conclude a so-called
domination and profit transfer agreement
    ** Pfeiffer Vacuum would be the controlled company and
Pangea the controlling company with the right to transfer
profits
        ** Pangea, which owns 63.66% of Pfeiffer Vacuum shares,
said it wants to simplify the coordination between the two
groups of companies and in particular the decision-making
processes
    ** Pangea wants to begin the negotiations in the short-term,
Pfeiffer Vacuum adds
    ** "Also, nice to speculate on a new bid for the rest of
PFV," a local trader says
    ** Pfeiffer Vacuum shares top Germany's smallcaps index
 .SDAXI  in early Frankfurt trade
 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))