DGAP-News: Scholz Holding GmbH: Toyota Tsusho Corp. has acquired stake in Scholz Holding GmbH

DGAP-News: Scholz Holding GmbH: Toyota Tsusho Corp. has acquired stake in 
Scholz Holding GmbH

DGAP-News: Scholz Holding GmbH / Key word(s): Bond
Scholz Holding GmbH: Toyota Tsusho Corp. has acquired stake in Scholz
Holding GmbH

09.07.2014 / 09:12


Scholz Holding GmbH Presse Release

Essingen, 09. July 2014

Toyota Tsusho Corp. has acquired stake in Scholz Holding GmbH

  - CEO Oliver Scholz: "We have created a very good basis for the future"

  - Financial creditors to continue their partnership with recycling group 

  - Management board consists of five members 

  - Berndt-Ulrich Scholz resigns from the management board after 60 years
    in the company, but will retain an advisory role for the company

Toyota Tsusho Corp. (TTC), Nagoya/Japan, has acquired a 39.9 % stake in
Scholz Holding GmbH (formerly Scholz AG) as planned. On 10. April 2014,
both companies had announced having reached an agreement on the deal.

TTC's stake will significantly strengthen the international recycling
group. Following restructuring - much of which has already been completed -
TTC's involvement now forms the basis for strategic realignment. The
transaction leaves 60.1 % of the company's share capital in the hands of
the Scholz family.

Oliver Scholz, CEO of Scholz Group: "With the entry of TTC a new chapter
begins in the development of our company. I am particularly pleased that
the diverse strategic perspectives, available to the Scholz Group with the
new partner, offer tremendous opportunities for the future development of
our Group. With the completion of the transaction with TTC we have now
created a very good basis upon which to look to the future with confidence,
after difficult months of restructuring".

The terms for closing of the transaction included the continuing support to
the Scholz group by its financial creditors. Over the past few weeks
agreements have been concluded with all banks and capital providers on
continuing financing to Scholz.

With the entry of TTC, the Management of Scholz Holding GmbH has changed
and, since 01. July 2014, has consisted of five members (previously six).
Chief Executive Officer (CEO) remains, as previously announced, Mr. Oliver
Scholz. In addition Mr. Raphael Barth and Mr. Parag-Johannes Bhatt will
continue to be part of the Board. TTC did provide two Board Members: Mr.
Shinji Kashihara and Mr. Sumiaki Matsunaga.

Mr. Berndt-Ulrich Scholz, who has been with the company for more than 60
years, resigned from Management on 30. June 2014, but will remain with
Scholz in an advisory capacity. Mr. Berndt-Ulrich Scholz looks back on a
great entrepreneurial life's work: In the fourth generation, he built the
family business into an internationally active recycling group that, today,
is one of the leading international companies for the preparation and
processing of steel and metal scrap. As part of the succession that had
been planned over a long period of time, Mr. Berndt-Ulrich Scholz gave over
the Chair of the holding company Management at the beginning of this year
to his son, Mr. Oliver Scholz.

In addition, Mr. Markus Schürholz and Dr. René Gissinger have withdrawn
from the Management of Scholz Holding GmbH. Mr. Markus Schürholz had joined
the Board as the Chief Restructuring Officer (CRO) in mid July 2013 of the
then Scholz AG; he will now turn to a new professional task after the very
successful restructuring of the Group.

Contact details:
Scholz Holding GmbH 
Heidrun Melchinger 
Tel.: +49 7365 84-48  
E-Mail: heidrun.melchinger@scholz-ag.de

Frank Elsner Kommunikation für Unternehmen GmbH
Frank Elsner
Tel.: +49 5404 9192-0
E-Mail: office@elsner-kommunikation.de

End of Corporate News


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Language:    English                  
Company:     Scholz Holding GmbH      
             Am Bahnhof               
             73457 Esslingen          
Phone:       +49 7365 84-0            
Fax:         +49 7365 1481            
E-mail:      infoscholz@scholz-ag.de  
Internet:    www.scholz-ag.de         
ISIN:        AT0000A0U9J2             
WKN:         A1MLSS                   
End of News    DGAP News-Service  
277242 09.07.2014                                                      
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