Satisfaction in Ducati With Signing of Definitive Agreement Between TPG and InvestIndustrial
March 01 2006 - 9:40AM
PR Newswire (US)
Ducati and UBM Sign Preliminary Contract to Establish Syndicate of
Stand-By Underwriters for Proposed Capital Increase BOLOGNA, Italy,
March 1 /PRNewswire-FirstCall/ -- Ducati Motor Holding S.p.A.
(NYSE:DMHNYSE:andNYSE:BorsaNYSE:ItalianaNYSE:S.p.A:NYSE: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.
Founded in 1926, Ducati develops racing-inspired motorcycles
characterized by unique engine features, innovative design,
advanced engineering and overall technical excellence. The Company
produces motorcycles in six market segments which vary in their
technical and design features and intended customers: Superbike,
Supersport; Monster, Sport Touring, Multistrada and Sport Classic.
The Company's motorcycles are sold in more than 60 countries
worldwide, with a primary focus in the Western European and North
American markets. Ducati has won thirteen of the last fifteen World
Superbike Championship titles and more individual victories than
the competition put together. For more information about the
Company, please visit our web site at http://www.ducati.com/ This
press release contains statements that are forward-looking and are
subject to a number of risks and uncertainties that could cause
actual results to differ materially from those anticipated, as
described in documents previously filed by the Company with CONSOB
and with the U.S. Securities and Exchange Commission. These
materials are not an offer of securities for sale in the United
States. The securities may not be offered or sold in the United
States absent registration with the United States Securities and
Exchange Commission or an exemption from registration under the
U.S. Securities Act of 1933, as amended. Any public offering of the
company's securities to be made in the United States will be made
by means of a prospectus that may be obtained from the company and
that will contain detailed information about the company and its
management, including financial statements. DATASOURCE: Ducati
Motor Holding S.p.A. CONTACT: For further information, please
contact: Fabrizio Nardi, Investor Relations e-mail:
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