The German space and technology company OHB SE (“OHB”) announces that KKR’s tender offer (“Offer”) will be completed following the satisfaction of all conditions precedent. All regulatory approvals have been granted. As the next step, KKR will pay the consideration for the Offer in accordance with the terms of the Offer Document by September 9, 2024, at the latest. Together with KKR as a minority investor, OHB will continue to systematically implement its own growth strategy. Demand for privately financed, cost-efficient, and flexible space solutions is growing steadily. OHB has set itself the goal of meeting this demand and becoming the leading full-service provider of space solutions for institutional and commercial customers in Europe.
Following the completion of the transaction, KKR holds approximately 28.6% of the company’s shares. The Fuchs family, the company’s owners, did not sell any shares as part of the transaction and thus continues to hold approximately 65.4% of the outstanding shares. OHB thus remains an independent German family-owned company with Marco Fuchs as CEO and the existing management team. The remaining approximately 6% of the shares are held by the public.
“In KKR, we have found the ideal minority investor to support our long-term growth and with whom we can successfully implement our corporate strategy. We are very pleased that the offer is now being completed. It allows our existing shareholders to already benefit from OHB’s long-term value appreciation while simultaneously paving the way for our delisting,” says Marco Fuchs, CEO of OHB.
“OHB is the only major German space company that is also a leading player in the European market. KKR supports the goal of developing OHB into a European space champion and making a significant contribution to Europe’s sovereignty in space,” said Christian Ollig, Partner and Head of the DACH region at KKR.
OHB continues to plan its delisting in order to facilitate the implementation of its long-term growth strategy as a privately held company.
About OHB SE
OHB SE is a German aerospace and technology group and one of the leading independent players in the European aerospace industry. With many years of experience in executing challenging projects, OHB SE is exceptionally well-positioned in the international marketplace and offers its customers a broad portfolio of innovative products across three segments: SPACE SYSTEMS, AEROSPACE, and DIGITAL. The company employs approximately 3,400 people and generated total revenue of approximately EUR 1.2 billion in 2023.
About KKR
KKR is a leading global investor that provides alternative asset management, capital markets, and insurance solutions. Its focus is on generating attractive investment returns through a long-term, disciplined investment approach, employing highly qualified professionals, and supporting growth in its portfolio companies and in the communities where KKR operates. KKR funds invest in private equity, credit products, real assets, and—through strategic partners—hedge funds. KKR’s insurance subsidiaries offer pension, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may also refer to the activities of the funds managed by KKR and its insurance subsidiaries. For more information about KKR & Co. Inc. (NYSE: KKR), please visit the KKR website atwww.kkr.com. For more information about the Global Atlantic Financial Group, please visit the Global Atlantic Financial Group website atwww.globalatlantic.com.