Dorma and Kaba to merge
Access control companies Dorma and Kaba issued the following information via press release. Further details are available via the Dorma website.
• dorma+kaba to become one of the global top 3 companies in the security and access solutions market, with pro-forma sales exceeding CHF 2 billion (EUR 1.9 billion)
• Leading product and services offering from a single source thanks to complementary portfolios, value chain and geographic footprint in all key markets
• Excellent growth opportunities and significant synergy potential to create substantial added value for Kaba shareholders; planned special dividend of CHF 50 per share
• Dorma owner family to increase its entrepreneurial commitment by acquiring 9.1% stake in Kaba and together with Kaba family shareholders to form strong, long-term oriented anchor shareholder for the combined group
• As the SIX-listed dorma+kaba holding company, Kaba to hold 52.5% and the Dorma family owners to hold 47.5% of combined Dorma and Kaba business
• Kaba Extraordinary General Meeting on 22 May 2015 for approval of the merger; completion of transaction planned for third quarter 2015