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Broadview has invested €170 million in Westag & Getalit

12.11.2018 − 

Dutch Broadview Holding has invested a total of around €170m in the acquisition of a majority stake in Westag & Getalit AG, which was completed on August 21. The transaction was handled in two stages by Broadview Industries AG, which was newly founded for this purpose. In a first step, Broadview Industries acquired 75.50% of the voting rights and 37.75% of the share capital from the former majority shareholder Gethalia Foundation on the basis of an agreement signed on May 23. A further 7.90% of the voting rights and 20.58% of the share capital were acquired via a voluntary public takeover offer and two separate share purchases. Broadview Industries now holds 83.4% of the voting rights and 58.3% of the share capital.

With around 1,300 employees, Westag & Getalit generated revenues of €234.4m, EBITDA of €18.1m and net income of €6.5m in the 2017 financial year.

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