Agreement between TPG and InvestIndustrial - Gazzettino

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Agreement between TPG & InvestIndustrial

(2006-03-24)

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Ungefär en månad för sent publicerar vi nu information som kommit klubben tillhanda från Ducati Owners' Club och som handlar om det historiska övertagandet av TPGs aktier i Ducati av italienska InvestIndustrial. Vi återger här pressmeddelandet i sin helhet.

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Satisfaction in Ducati with signing of definitive agreement between TPG and InvestIndustrial.
Ducati and UBM sign preliminary contract to establish syndicate of stand-by underwriters for proposed capital increase.

Bologna, March 1st, 2006 - Ducati Motor Holding S.p.A. (NYSE: DMH and Borsa Italiana S.p.A: DMH), expressed satisfaction at the signing of the definitive contract between Texas Pacific Group and InvestIndustrial Holding S.A. for the transfer of 30% less one share (not considering treasury shares which may be retained by the Company) at Euro 0.85 per share.

The Company has also signed a preliminary contract with UniCredit Banca Mobiliare, to establish a syndicate of stand-by underwriters relating to the proposed capital increase for a maximum of Euro 80 million in ordinary shares to be offered by way of subscription rights.

Ducati has also obtained a new credit line of Euro 35 million from UniCredit Banca d’Impresa, which is guaranteed for a period of 5 years, and negotiations are continuing with other banks for a further Euro 25 million financing.

Following communication of the signing of the acquisition agreement, a Ducati Board of Directors meeting has been convened to deliberate on the postponement of the Ordinary Shareholders Meeting which was scheduled for March 20th, 2006 (first call) and March 22nd, 2006 (second call), to appoint the new Board of Directors, among other items. It is expected that the meeting will be held before mid-April in order to allow the new shareholder to complete the transition of the controlling stake in time to present its own list of Board candidates. Closing of the transaction is expected by the end of March.

"We are very satisfied that the change of ownership is drawing to the desired close, thereby ensuring the company’s relaunch", declared Federico Minoli, Ducati’s Chairman and Chief Executive Officer.

"We would like to thank Ducati’s banks, and in particular UniCredit Group, for their continuing confidence in the company", said Enrico D’Onofrio, Chief Financial Officer at Ducati.