GEA Group Aktiengesellschaft: GEA completes share buyback program

World News: . []

DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Share Buyback

08.02.2018 / 14:46
The issuer is solely responsible for the content of this announcement.


GEA completes share buyback program


Düsseldorf, February 8, 2018 - GEA Group Aktiengesellschaft completed its share buyback program in the amount of up to EUR 450 million within the envisaged timeframe. Between March 8, 2017, and February 6, 2018, a total of 12,003,304 shares were repurchased on the stock market. These repurchased shares account for 6.24 percent of the company's registered share capital. The shares were acquired at an average purchase price of EUR 37.49 EUR. Irrespective of a later date of cancellation, these repurchased shares do no longer carry the right to dividends.

'During the course of the previous years, we have utilized our net cash for the purpose of debt repayment and smaller and medium-sized acquisitions, thereby reinforcing our competitive position. In view of the strong cash position we held in early 2017, we further decided to invest up to EUR 450 million of our excess funds into our own shares over a period of one year. Now, we have managed to complete this program', said Helmut Schmale, Chief Financial Officer of GEA Group Aktiengesellschaft.
 

Corporate Media and Press:
GEA Group Aktiengesellschaft
Marc Pönitz
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany
Phone +49 (0)211 9136-1500
marc.poenitz@gea.com
 

About GEA
GEA is one of the largest suppliers for the food processing industry and a wide range of other industries that generated consolidated revenues of approximately EUR 4.6 billion in 2017. The international technology group focuses on process technology, components and sustainable energy solutions for sophisticated production processes in various end-user markets. The group generates around 70 percent of its revenue in the food and beverages sector that enjoys long-term sustainable growth. As of December 31, 2017, the company employed about 18,000 people worldwide. GEA is a market and technology leader in its business areas. The company is listed on the German MDAX (G1A, WKN 660 200). In addition, GEA's stock is included in the MSCI Global Sustainability Indexes. Further information is available on the Internet at gea.com.


Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
gea.com



08.02.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

Read More: http://www.dgap.de/dgap/News/?eqsNewsID=1673281

Published: .

Search for other references to "group" on SPi News


Share

Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
 
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 0751938.
 
Privacy Policy | Terms and Conditions | Contact Us