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VTG AG completes acquisition of AAE – Ahaus Alstätter Eisenbahn Holding AG

Wagon leasing and logistics company VTG Aktiengesellschaft  has successfully acquired leasing company Ahaus Alstätter Eisenbahn Holding AG (AAE). Following the approval of all anti-trust authorities concerned – Germany, Austria, Poland and Russia – the merger has been finalized and came into full effect in Hamburg on the 6th of January. VTG has acquired all AAE shares and expanded its fleet from more than 50,000 to over 80,000 wagons.

“I am delighted that we have been able to take this step just three months after the merger agreement was drawn up. I am now more convinced than ever about the tremendous opportunities offered by this merger”, said Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft, and added: “VTG and AAE complement each other perfectly. We will now unite VTG and AAE’s employees and business activities to offer our customers a new and expanded range of services.”

Both companies released information about the proposed merger on September 29, 2014. VTG has expanded its fleet to a total of more than 80,000 wagons: around 30,000 AAE wagons will be added to the existing VTG fleet of over 50,000. Shipping, railway and rail logistics companies will now be able to benefit from a full range of VTG wagon types, comprising tank wagons, intermodal wagons, standard freight wagons and sliding wall wagons, with a comprehensive spectrum of corresponding services. The average age of the AAE wagons is around 15 years which is significantly lower than the 23-year average of the VTG fleet. The age profile of the entire fleet therefore decreases to an average of 20 years.

As previously announced in September 2014, pursuant to the transaction, VTG Aktiengesellschaft has issued approximately 7.4 million new shares. This thereby increases the company’s capital to EUR 28.8 million, representing a 34 percent increase. The seller, Andreas Goer, will acquire these shares as part of the agreed contractual consideration and, in doing so, will become the second largest individual VTG shareholder after Compagnie Européenne de Wagons S.à r.l. which is managed by Wilbur Ross.

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