Clearances received for the Joint Venture between Metall Zug and Miele

Ad hoc announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange

Zug, June 5, 2024 – The respective relevant authorities have given their clearance for the Joint Venture between Metall Zug and Miele. The closing is planned for June 7, 2024. After this date, the Joint Venture will commence its operational activities.

As communicated on November 28, 2023, Metall Zug and Miele have signed an agreement under which Metall Zug will contribute its Infection Control Business Unit and the Belimed Life Science Group, and Miele its Steelco Group, into a newly established Joint Venture based in Zug, Switzerland. Metall Zug will participate with 33% and Miele with 67% in the Joint Venture.

The closing of the Joint Venture was subject to the clearance of the respective relevant authorities. These clearances have now been granted, so that the closing is expected to take place on June 7, 2024, and will be communicated on June 10, 2024. The Infection Control Business Unit and the Belimed Life Science Group (part of the Reporting Segment Others) will be fully consolidated in the consolidated financial statements of the Metall Zug Group until the closing. After that, Metall Zug AG's share of the Joint Venture's net result will be reported in the financial result.

About the Metall Zug Group
Metall Zug is a group of industrial companies headquartered in Zug. The Group has around 2,200 employees and comprises four Business Units:

  • Infection Control (Belimed Group)
  • Medical Devices (Haag-Streit Group)
  • Technologycluster & Infrastructure (Tech Cluster Zug AG, Urban Assets Zug AG)
  • Others (Belimed Life Science Group, Gehrig Group AG and Metall Zug AG)

The holding company Metall Zug AG is listed in the Swiss Reporting Standard of SIX Swiss Exchange in Zurich (type B registered shares: securities number 3982108, ticker symbol METN).

Legal Notes
The expectations expressed in this announcement are based on assumptions. Actual results may vary from those anticipated. This announcement is published in German and English. The German version is binding. Metall Zug AG processes personal data in accordance with its privacy statement available under: https://www.metallzug.ch/en/datenschutzerklaerung.

Key dates 
August 19, 2024Publication of Half-year Report 2024
  
Further information 
Urs Scherrer
Chief Financial Officer
Phone: +41 58 768 60 50
Bettine Killmer
Head of Corporate Communications & IR
Phone: +41 58 768 60 50

or: investorrelations@metallzug.ch 

This announcement is available at https://www.metallzug.ch/en/medien/medienmitteilungen.


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