Swoctem Intends To Increase Its Stake In Kloeckner

(RTTNews) - Swoctem GmbH said it intends to increase its stake in Kloeckner & Co SE (KCO), and make a voluntary public takeover offer to the shareholders of the German steel and metal company. Shareholders are offered to acquire all no-par value registered shares of Kloeckner not directly held by SWOCTEM GmbH against payment of a cash consideration in the amount of 9.75 euros. The offer will not contain a minimum acceptance threshold.

With the offer, Swoctem GmbH aims to increase its existing shareholding in Kloeckner SE to more than 30% and thus to have more flexibility to buy shares in the future without having to make a mandatory offer.

According to Swoctem, Kloeckner shall remain listed on the stock exchange. Additionally, Swoctem GmbH does not aim for a majority stake in the Company and will continue to support the Company's Executive Board in successfully implementing the strategy " Kloeckner & Co 2025".