Wavin receives unsolicited non-binding proposal

The Management Board and the Supervisory Board of Wavin have taken notice of recent movements in its share price. In response, Wavin announces that it has received an unsolicited indicative non-binding proposal from Mexichem for the acquisition of all outstanding shares of Wavin. Mexichem is a manufacturer of raw materials and plastic pipe systems in Latin America based in Mexico.

The Management Board and the Supervisory Board will carefully consider the indicative non-binding proposal and explore the rationale, merits and risks for all Wavin's stakeholders, of a possible business combination of Wavin with Mexichem.

In accordance with the Dutch Corporate Governance Code and the Rules for the Supervisory Board, to avoid the appearance of any conflict of interest, the Supervisory Board has decided that its Chairman, Rene Kottman, who is also the chairman of the supervisory board of Delta Lloyd N.V., an indirect holder of a substantial interest in Wavin, will not take part in the discussion or decision-making on the abovementioned subject.

Source: Wavin