Source: SAF-Holland SE announcement
BESSENBACH, Germany — The Polish antitrust authority has approved the takeover of the Swedish braking system and EBS specialist HALDEX AB by SAF-HOLLAND SE, the axle and suspension systems manufacturer based in Bessenbach, Germany. Prior to this, the German and U.S. antitrust authorities had declared their approval. Now with the approval of the Polish authority, all the required approvals under antitrust law have been obtained.
Already on June 8, 2022, SAF-HOLLAND SE had announced a recommended cash offer to the shareholders of HALDEX AB to acquire all of their shares at an offer price of SEK 66 per share in cash.
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With the approval, the closing of the transaction and the inclusion of HALDEX in the scope of consolidation and financial reporting of the SAF-HOLLAND Group will take effect as of February 22, 2023. As a result, both companies will still report separate financial statements for the 2022 financial year.
SAF-HOLLAND CFO Frank Lorenz-Dietz amends: “At the occasion of the Analyst Conference on March 30 we plan to provide guidance for the 2023 financial year already for the combined Group including HALDEX.”
The Chairman of the Management Board of SAF-HOLLAND SE, Alexander Geis, adds: “We are pleased that the Polish antitrust authority has also finally given its approval. SAF-HOLLAND and HALDEX are a perfect match when it comes to technology: axle and suspension systems, telematics and EBS control will now grow to converge into one intelligent unit. This is how we will drive the transformation of the transport industry in the future, by developing innovative solutions for connectivity, electrification and autonomous driving. We now have the best prerequisites for success in the most important growth areas of the future – among others in predictive maintenance.”