COMCO approves Tamedia's takeover of Goldbach
Küsnacht, 16.08.2018. Last December, the media group Tamedia and the Goldbach Group announced their plan to enter a strategic partnership. After an in-depth review, the Swiss Federal Competition Commission COMCO has now approved the takeover without any requirements or conditions. The execution will take place within the following ten trading days.
The Swiss Federal Competition Commission COMCO has approved Tamedia's plan to take over the Goldbach Group without any requirements or conditions. After the successful offering process, where as much as 96.90 percent of the maximum number of Goldbach shares that were subject to the offer had already been tendered to Tamedia, a further condition of the offer according to the Offer Prospectus is thus fulfilled and the takeover can now be completed. The execution will take place within the following ten trading days. After the cancellation of the remaining Goldbach shares by court order, Tamedia will compensate the remaining minority shareholders and have the Goldbach Group delisted. Christoph Tonini, CEO of Tamedia: "We are delighted with COMCO's positive decision. With this, we have cleared the last important hurdle for the successful takeover of the Goldbach Group."
With their strategic partnership, the media group Tamedia and the Goldbach advertising marketing company intend to strengthen their position in the Swiss advertising market and at the same time expand their international business, especially in the neighbouring countries of Germany and Austria. Jointly, the two companies - along with the out-of-home provider Neo Advertising, in which Tamedia holds a majority interest - will be able to offer their customers high-circulation advertising on all channels.
The existing management will continue to run the Goldbach Group independently at its current headquarters in Küsnacht (CH). CEO Michi Frank will join the Management Board of Tamedia as an additional member. He, too, is pleased with the positive response from COMCO: "Together with Tamedia we will be able to further pursue our growth strategy and be in an even better position to meet the needs of our customers and partners."
In view of the deferred completion of the takeover due to the in-depth review by the COMCO, a second trading line was opened in May for the Goldbach shares that had been tendered as part of the public tender offer. This second trading line will remain open until three trading days before the completion of the takeover.
Goldbach Group AG
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Goldbach Group AG
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The corporate profile of the Goldbach Group
The Goldbach Group companies market and represent advertising in private electronic media in the areas of television, radio, digital-out-of-home, online, search engine and mobile marketing. As an independent aggregator, Goldbach offers its clients advertising windows where selected target groups receive commercial information at the right time irrespective of their location. The Group's core business comprises planning, consulting, creation, concept development, purchasing and implementation through to assessment of the deployment of electronic offline and online media and cross-media campaigns based on data-driven technologies.
The Goldbach Group is listed on the SIX Swiss Exchange (Swiss Reporting Standard, security number 487094, ISIN CH0004870942, ticker symbol: GBMN), is based in Switzerland (Küsnacht ZH) and is active in German-speaking countries.