LIXIL and DBJ Complete the Acquisition of 87.5 Percent of GROHE Group S.à r.l. Business Wire TOKYO -- January 21, 2014 LIXIL Corporation (Headquarters: Tokyo, Japan; President and CEO: Yoshiaki Fujimori), and the Development Bank of Japan Inc. (“DBJ”; Headquarters: Tokyo, Japan; President and CEO: Toru Hashimoto) have completed the acquisition of 87.5% of the share capital of GROHE Group S.à r.l., one of the world’s leading providers of premium sanitary fittings (Corporate Centre: Düsseldorf, Germany; CEO: David Haines. Hereafter called GROHE). The implied enterprise value, including the assumption of debt, is €3.06 billion (428.4 billion JPY, €1=140 JPY), as announced on September 26, 2013. The shares were purchased from Glacier Luxembourg One S.à r.l., indirectly owned by TPG and DLJ Merchant Banking Partners. GROHE and Joyou, GROHE’s subsidiary company, became LIXIL-affiliated companies on January 21. The transaction represents the largest ever German investment by a Japanese company and is another significant step in the implementation of LIXIL’s highly successful strategy to become the global leader in the building materials and housing equipment industry. It follows the acquisitions of American Standard Brands in August 2013, a leading North American manufacturer of a wide range of high quality kitchen and bath products; Permasteelisa Group in 2011, a high-end curtain wall contractor in Italy; and American Standard Asia Pacific in 2009. LIXIL will leverage GROHE’s extensive distribution network to expand its faucet business and, more generally, to strengthen its product offerings for complete bathroom solutions globally. Contact: Media Contacts LIXIL Group Corporation Miyuki Otomo, +81 3 6268 8801 Corporate Communication Department firstname.lastname@example.org or Hering Schuppener Folker Dries, +49 69 9218 7526 email@example.com or GROHE Group Dr. Ulrike Heuser-Greipl, +49 211 9130 3001 SVP PR and IR firstname.lastname@example.org
Showa Shell Surges 29% After Idemitsu Acquisition Report
LIXIL and DBJ Complete the Acquisition of 87.5 Percent of GROHE Group S.à r.l.
Press spacebar to pause and continue. Press esc to stop.