CROSS Industries as a strategic partner of UIAG

07.07.2005 - CROSS Industries AG (CIAG) acquired today the 10%-block of shares held by Geling-Group in Unternehmens Invest AG (UIAG), which is listed at the Prime Market of the Vienna Stack Exchange. This move forms a new strategic partnership and an intensification of the Austrian UIAG main shareholders.

Equity-stake take-over
CROSS Industries AG takes over the 10% equity stake in UIAG from the Gerling-group which leads to a change in the ownership structure of UIAG. Negotiations between CROSS Industries AG and Deutsche Beteiligungs AG (DBAG) about the take-over of a UIAG block of shares, presently owned by Fund III KG, which is managed by DBAG, are currently being held. . However, the existing connection between UIAG and DBAG, as well as their financial power and their access to international syndications will be maintained.
Joint investment projects through higher financial strength
In the future UIAG and CIAG will undertake together participation projects. Both companies expect a stimulation of the Austrian participation market and therefore increased potential to participate in larger companies. For UIAG the strategic partnership with CIAG leads to a considerable increase of the financial power and industrial know-how for joint investment projects. This enables UIAG to handle bigger projects without the help of foreign syndications.

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