DGAP-Adhoc: paragon Plans Sale of Stake in Voltabox

2020. március 03., kedd, 10:52





DGAP-Ad-hoc: paragon GmbH & Co. KGaA / Key word(s): Strategic Company Decision


paragon Plans Sale of Stake in Voltabox


03-March-2020 / 10:52 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




paragon Plans Sale of Stake in Voltabox



Delbrück, Germany, March 3, 2020 - Today, the Management Board of the general partner of paragon GmbH & Co. KGaA [ISIN DE0005558696] has decided to prepare the sale of its stake in the subsidiary Voltabox AG. This is due to the ever fewer overlaps between the business models of paragon and Voltabox. The options currently being weighed by paragon range from a partial sale to the sale of the entire stake. paragon aims to invest the proceeds into its core automotive business. paragon currently holds 60 percent of the share capital of Voltabox AG; the remaining 40 percent is in free float.

 



About paragon GmbH & Co. KGaA


paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company"s portfolio includes the Electronics operating segment"s innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. With Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, the Group is also active in the rapidly growing Electromobility operating segment with its cutting-edge lithium-ion battery systems developed in-house.



In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech and Neu-Ulm (Bavaria, Germany), Markgröningen and St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Oroslavje (Croatia) and Austin (Texas, USA).



Additional information about paragon can be found at www.paragon.ag.



Capital Market & Press Contact

paragon GmbH & Co. KGaA



Stefan Westemeyer

Artegastrasse 1

33129 Delbrück, Germany

Phone: +49 (0) 52 50 - 97 62-141

Fax: +49 (0) 52 50 - 97 62-63

Email: investor@paragon.ag











03-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: paragon GmbH & Co. KGaA

Artegastraße 1

33129 Delbrück

Germany
Phone: +49 (0)5250 97 62 - 0
Fax: +49 (0)5250 97 62 - 60
E-mail: investor@paragon.ag
Internet: www.paragon.ag
ISIN: DE0005558696, DE000A2GSB86,
WKN: 555869, A2GSB8,
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 988155





 
End of Announcement DGAP News Service




988155  03-March-2020 CET/CEST







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