Dorma-Kaba: Competition authorities approve merger
The competition authorities have approved the planned merger of Dorma and Kaba without conditions, the company has announced. The merger of the two companies is thus expected to be completed by September 1, 2015.
With the new product range announced in April 2015, the Fusion is emerging as one of the world's top three companies for security and access solutions, with sales of over CHF 2 billion and around 16,000 employees in more than 50 countries.
With the German Federal Cartel Office, the competition authorities in all relevant countries have approved the planned merger of Dorma and Kaba without any conditions. This means that another important prerequisite for merging the Kaba Holding AG, headquartered in Rümlang ZH, and the Ennepetal, Germany-based family business Dorma Holding GmbH + Co. KGaA has been fulfilled. The closing of the transaction is targeted for September 1, 2015.
The closing of the transaction will become definitive with the entry in the relevant commercial register scheduled for September 1, 2015. It includes the merger under the common umbrella of Kaba Holding AG (renamed dorma+kaba Holding AG upon closing) as well as the implementation of the agreements made by the Extraordinary General Meeting of Kaba Holding AG adopted on May 22, 2015.
Eligible shareholders will receive the special dividend of 50 Swiss francs per share. The ex-dividend date has been set for September 23, 2015 and the distribution date for September 25, 2015.
