Siempelkamp finalises acquisition of Pallmann
Siempelkamp has acquired the remaining 25% stake in Pallmann with effect from 1 April, as planned, thus boosting its shareholding to 100%. Siempelkamp had initially purchased a 25.1% stake in Pallmann in April 2012 to avert the threat of insolvency at that time. In December 2015, Siempelkamp inked another agreement with Pallmann family shareholders to transfer additional shares in several instalments. The stake had risen to 45.8% by the end of 2015. More shares were acquired in May 2016, bringing Siempelkamp’s stake to 49.8%.
The German Federal Cartel Office approved the acquisition of control on 19 February after a relatively short review. The transfer of another 25.2% stake, which was originally scheduled to happen in early October, was then delayed until mid-December. Siempelkamp had since owned 75% of the shares in Pallmann and its parent firm Ludwig Pallmann Verwaltungsgesellschaft mbH.