# German space firm OHB plans to delist as KKR takes minority stake Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-08-07 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: German space firm OHB announces delisting plans as KKR Meta Description: OHB announced that U.S. financial investor KKR will take a minority stake, leading to delisting. The offer values company at 768 million euros. URL: https://financedigest.com/german-space-firm-ohb-plans-to-delist-as-kkr-takes-minority-stakehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-08-07t061834z1lynxmpej7604mrtroptp4kkr-interview-1736813691703-compressed.jpg) # German space firm OHB plans to delist as KKR takes minority stake By Alexander Hübner BERLIN (Reuters) -Germany’s OHB on Monday said U.S. financial investor [KKR was buying a minority stake in the space](https://www.financedigest.com/marketing-in-a-new-financial-frontier.html "Marketing in a new financial frontier ") company and it planned to delist from the stock market. KKR is planning a voluntary public tender [offer for all outstanding shares](https://www.financedigest.com/world-shares-rally-as-china-offers-markets-a-hand.html "World shares rally as China offers markets a hand") at a price of 44 euros ($48.34), according to OHB. That [offer values the company](https://www.financedigest.com/passendo-partners-with-leading-media-company-audienzz-to-revolutionise-its-ad-offer-in-a-portfolio-of-over-70-premium-newsletters.html "Passendo partners with leading media company, audienzz, to revolutionise its ad offer in a portfolio of over 70 premium newsletters") at 768 million euros. Its [shares](https://www.financedigest.com/asia-shares-subdued-yen-shunned-as-euro-shines.html "Asia shares subdued, yen shunned as euro shines") closed at 32.2 euros on Friday and rose to 43 euros in opening trade on Monday. The Fuchs family, which holds just under 70% of OHB, will keep its shares and [remain majority](https://www.financedigest.com/ev-batteries-remain-major-challenge-for-insurers-uks-thatcham.html "EV batteries remain major challenge for insurers – UK’s Thatcham") shareholders, with Marco Fuchs staying on as chief executive for a further five years. In total, KKR is putting up to 338 [million euros into OHB with the takeover bid](https://www.financedigest.com/spains-king-felipe-reveals-2-6-million-euros-in-wealth-in-bid-to-make-royal-house-more-transparent.html "Spain’s King Felipe reveals 2.6 million euros in wealth in bid to make Royal House more transparent"), a capital increase of 10% and a capital injection for the OHB space subsidiary Rocket Factory. We are delighted that with KKR as a minority investor, we have found the ideal partner to support our long-term [growth and vision,”](https://www.financedigest.com/sales-growth-of-automotive-clear-vision-systems-market-is-driven-by-production-of-new-vehicle.html "Sales Growth Of Automotive Clear Vision Systems Market Is Driven By Production Of New Vehicle") said Fuchs. OHB said its executive and supervisory boards supported the [offer and intended to recommend that shareholders accept](https://www.financedigest.com/germanys-slm-recommends-shareholders-accept-nikon-takeover-offer.html "Germany’s SLM recommends shareholders accept Nikon takeover offer") it. The Bremen-based [company aims to become the leading](https://www.financedigest.com/veterinary-teleradiology-market-insights-by-leading-companies-and-emerging-growth-till-2031.html "Veterinary Teleradiology Market Insights by Leading Companies and Emerging Growth Till 2031") space provider for governments and commercial customers in Europe. Last year, OHB generated more than a [billion euros in sales](https://www.financedigest.com/mexicos-femsa-launches-second-3-billion-euro-sale-of-heineken-shares.html "Mexico’s FEMSA launches second 3 billion euro sale of Heineken shares") with 3,000 employees. The [global market for space solutions will continue to grow](https://www.financedigest.com/growing-up-milk-market-globally-expected-to-drive-growth-through-2021-2031.html "Growing Up Milk Market Globally Expected to Drive Growth through 2021-2031"). We see great potential in Europe,” said Christian Ollig, [partner and head of the German-speaking region at KKR](https://www.financedigest.com/kkr-sells-50-stake-in-spains-x-elio-to-partner-brookfield.html "KKR sells 50% stake in Spain’s X-elio to partner Brookfield"). OHB posted a first half pre-tax profit of 19.6 million euros and said its [order backlog remained at a high level of 1.8 billion](https://www.financedigest.com/rheinmetall-wins-quarter-billion-euro-order-for-e-vehicle-parts.html "Rheinmetall wins quarter-billion euro order for e-vehicle parts") euros. ($1 = 0.9102 euros) (Reporting by Alexander Huebner and Rachel MoreEditing by Miranda Murray, Kirsten Donovan) --- This blog is powered by Superblog. 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