Allgeier SE: Purchase agreement cannot be implemented as planned due to German Ciber companies filing for insolvency - Negotiations about already envisaged asset deal to continue nevertheless
Munich, Thursday, March 30, 2017 - Allgeier SE (ISIN DE0005086300, WKN 508630) signed a purchase agreement with Ciber, Inc., Greenwood Village, Colorado, USA, on February 3, 2017, concerning German companies Ciber AG and Ciber Managed Services GmbH, Ciber France SAS, as well as further assets (see ad hoc announcement of February 3, 2017). With an ad hoc announcement on March 22, 2017, Allgeier announced that the transaction could not be implemented in the agreed manner, as crucial preconditions for the closing had not been met. For this reason, the parties initiated talks about an alternative structure to the transaction in the form of an asset deal. To date, it has not been possible to finally implement such a transaction due to the high level of uncertainty arising from concerns about the risk of legal appeals. We were informed today that the German Ciber companies have filed for bankruptcy with the Cologne local court. From Allgeier's perspective this means that the original purchase agreement can now no longer be implemented conclusively. Allgeier nevertheless appraises the portfolio and services of the German Ciber companies positively, and will consequently offer to the insolvency administrator to continue talks about the asset deal that has already been envisaged. As before, Allgeier is prepared to offer customers and employees of Ciber Germany a rapid solution for the continuation and restructuring of the business. We will make direct contact with the insolvency administrator to this end. Contact: Allgeier SE Corporate Communications & Investor Relations Dr. Christopher Grosse Wehrlestrasse 12 81679 Munich Tel.: +49 (0)89/998421-0 Fax: +49 (0)89/998421-11 Email: firstname.lastname@example.org Web: www.allgeier.com Allgeier SE is one of the leading IT companies for digital transformation: with a growth strategy oriented to innovations and future trends, as well as an integrative business model, Allgeier seizes the opportunities that digitalization offers. Three operating segments, each with their individual specialist or sector-related focal points, work together for around 3,000 customers from almost all business sectors. With more than 6,300 salaried employees and more than 1,300 freelance experts, Allgeier offers its customers an extensive one-stop-shop range of solutions and services. With a highly flexible delivery model, Allgeier covers the entire IT service spectrum from on-site through to nearshore and offshore: with a strong business pillar in India, the company secures flexibility and maximum scalability of services, as well as highly qualified high-end software development expertise. Allgeier customers include globally operating groups as well as innovative medium-size business operations that aim to secure strategic advantages through high-performance IT solutions, intelligent software and flexible personnel services. This Munich-based, fast-growing Group maintains more than 100 branches in German-speaking countries, in nine other European countries, as well as in India, Singapore, Vietnam, Mexico and the USA. Allgeier generated EUR 498 million of revenue in 2016 (continuing operations) according to preliminary figures. Allgeier SE ranks first in the 2016 Lünendonk(R) list of "Leading German Medium-Sized IT Consultants and System Integrators". According to the Lünendonk(R) 2016 market segment study "The Market for Recruiting, Mediating and Managing IT Freelancers in Germany", Allgeier Experts ranks among Germany's top three IT personnel service providers. Allgeier SE is listed on the Regulated Market of the Frankfurt Stock Exchange (WKN 508630, ISIN DE0005086300). For more information, visit: www.allgeier.com.
31-March-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Company: ALLGEIER SE Wehrlestraße 12 81679 München
Germany Phone: +49 (0) 89 - 99 84 21 0 Fax: +49 (0) 89 - 99 84 21 11 E-mail: email@example.com Internet: http://www.allgeier.com ISIN: DE0005086300 WKN: 508630 Indices: CDAX Listed: Regulated Market in Frankfurt; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange End of Announcement DGAP News Service
560707 31-March-2017 CET/CEST