Auto supplier Grammer is Chinese

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Jifeng from China has taken over the Bavarian seat manufacturer Grammer, the majority of. Previously, a Hungarian entrepreneur, the family had to sell their shares. The Bavaria offers to the new owner.

Car supplier Jifeng believe that after the expiration of the takeover offer to the Grammer-shareholders now 74 percent of the shares, the company said.

The Bosnian investors family of Hastor, and with the Board of management, employees and customers of Grammer on the cross were not on Board. Trade unionists and investment bankers responded pleased.

The exit of the Hastors is positive, said Horst Ott, Union representatives, and Deputy chief of the Supervisory Board of Grammer. With Jifeng Grammer’m now into calmer water.

Jifeng has agreed by contract, Grammer will remain independent and listed on the stock exchange, and all sites for five years and all the jobs for seven and a half years.

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The shares of Grammer to put the close on Tuesday. All of the cartel authorities approved the Takeover, as Jifeng told. Jifeng-Chairman of the Board, Yiping Wang called on the remaining Grammer-shareholders, their shares in the current two-week grace period is also to be submitted.

Jifeng as a Savior

The family business Hastor was entered at the beginning of 2016 at Grammer and had tried to occupy the Executive Board and the Supervisory Board. The but failed due to the resistance of other shareholders, the employees and the policy.

Also, with the two main Grammer-customers, VW and Daimler, had the Hastors dispute. Hastor-supply companies had laid 2016, the VW-bands in Wolfsburg and Emden temporarily shut down.

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Interview with Markus Taube, University of Duisburg-Essen about Chinese investments in Germany

The Grammer of the Board had brought Jifeng to help to Hastors get rid of people. The Chinese were initially expected to be 25 percent at Grammer, but by the end of may to make a bid for the whole company, and gave wide-ranging warranties.

Hastor had referred to the first offer as too low, and flirted even so, its share to increase. But on Wednesday, the Hastor investment company, Cascade announced that it was selling its share package of around 19 percent on Grammer is almost complete. Thus, the activist is likely to have generated of a shareholder of approximately 70 million euros profit.

No objections to the policy

Grammer has 15,000 employees, of which 2000 at the headquarters in Amberg. The company manufactures center consoles, and headrests for cars as well as seats for construction machinery and tractors. On the stock exchange Grammer is about 770 million euros in value.

Of the policy, there were no objections to the Acquisition by a Chinese company. The Federal government had recently prevented the entry of a Chinese state group to the German electricity grid operator 50 Hertz, and is currently, the hurdles to takeover attempts in sensitive areas to increase.

The people’s Republic is to be saved in 30 years in all important industry leader. To Chinese investors to buy European technology companies. Made the headlines the entry of Daimler and the Acquisition of the robot manufacturer Kuka.

 

nm/bea (rtr, afp, dpa)