Zwolle, 22 November 2011 - The Management Board and the Supervisory Board of Wavin have taken notice of recent movements in its share price. In response, Wavin announces that it has received an unsolicited indicative non-binding proposal from Mexichem for the acquisition of all outstanding shares of Wavin. Mexichem is a manufacturer of raw materials and plastic pipe systems in Latin America based in Mexico.
The Management Board and the Supervisory Board will carefully consider the indicative non-binding proposal and explore the rationale, merits and risks for all Wavin's stakeholders, of a possible business combination of Wavin with Mexichem.
In accordance with the Dutch Corporate Governance Code and the Rules for the Supervisory Board, to avoid the appearance of any conflict of interest, the Supervisory Board has decided that its Chairman, Rene Kottman, who is also the chairman of the supervisory board of Delta Lloyd N.V., an indirect holder of a substantial interest in Wavin, will not take part in the discussion or decision-making on the abovementioned subject.
Wavin has engaged Bank of America Merrill Lynch as financial advisor and Stibbe as legal counsel.
Further announcements will be made if and when appropriate.
This is an announcement in accordance with Section 5:25i, paragraph 2 of the Dutch Financial Supervision Act (Wet op het financieel toezicht).
About Wavin
Wavin is the leading supplier of plastic pipe systems and solutions in Europe. The company provides essentials: plastic pipe systems and solutions for tap water, surface heating and cooling, soil and waste, rain- and storm water, distribution of drinking water and gas and telecom applications. Wavin is headquartered in Zwolle (The Netherlands) and has a presence in 26 European countries, with manufacturing sites in 18 of those and one in China. The company employs approximately 6,400 people and reported revenue of more than EUR 1.2 billion for 2010. Outside Europe, it has a global network of agents, licensees and distributors. Wavin is listed on the NYSE Amsterdam stock exchange (WAVIN). More details about Wavin can be found at www.wavin.com
tijd 11.23
Wavin EUR 5,80 +1,84 en 430.000 sts omzet.