OHB on Monday announced a voluntary public tender offer by US investment company KKR for all outstanding shares in the German space technology company, with the Fuchs family to retain permanent control of the company.
Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photoon Monday announced a voluntary public tender offer by US investment company KKR for all outstanding shares in the German space technology company, with the Fuchs family to retain permanent control of the company.
The Fuchs family would remain majority shareholders, with Marco Fuchs as CEO and the existing management team to continue leading the company. "Strengthening OHB as an independent, European company and partner for governments and institutions strengthens European security and sovereignty in space," Fuchs said in a statement, adding that the deal with KKR as minority investor would support its long-term growth.
As part of the deal, KKR is to invest 30 million euros in OHB subsidiary Rocket Factory Augsburg AG through convertible instruments.Writing by Rachel More Editing by Miranda Murray
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