Balda generates approx. EUR 150 million by sale of further shares in TPK Holding

Balda AG, a specialist for high-quality plastic solutions, has sold through its subsidiary Balda Investment Singapore Pte. Ltd. 15,998,365 shares of TPK Holding Co., Ltd. and generated proceeds in the amount of approx. EUR 150 million. The transaction was made via block-trade organized by the investment firm UBS. The sale, which will not affect the dividend rights of Balda in TPK Holding for the business year 2011, will be recognized in profit and loss of the short business year from January 1st 2012 to June 30, 2012. Balda had already sold 20,000,000 TPK-shares in February 2012 and thereby generated proceeds of approx. EUR 238 million.

By the latest transaction, the holding of Balda Investments Singapore Pte. Ltd. in TPK Holding Co., Ltd. further reduces from 7.6 % to approx. 0.8 %, but will go up to approx. 2 % due to TPK dividends for business year 2011 physically made in shares. The management board intends to sell the remaining shares, that will be locked up for 90 days, at an optimized value and to fully dispose of the non-strategic TPK-investment. It also confirmed the aim to distribute a significant amount of the transaction as extraordinary dividend to the shareholders of Balda AG. As a consequence of the conducted sales of TPK-shares, the company expects a significant profit on group-level for the short business year 2012.

Source: Balda