Press release
ARAGON AG: Management Buyout
- Holding Company of the Top-Management buys out Shares of ABL Group and becomes strongest shareholder- Dr. Herbert Walter New President of the Supervisory Board
Aragon AG, one of the leading financial services companies in the German speaking markets, has a new cornerstone shareholder. A new holding company owned by the board members Dr. Sebastian Grabmaier and Ralph Konrad acquires 40.7 percent of the share capital of Aragon from Angermayer, Brumm und Lange Unternehmensgruppe GmbH (ABL Group).
The buy-out of Aragon AG out of ABL Group is due to the fact that synergies between the financial services business of Aragon and the capital markets and asset management activities of ABL Group were scarce. The acquisition of the shares by the newly founded Aragon Holding GmbH is under the condition of approval of the different regulatory authorities amongst others, but is to be executed by the end of this year.
In the wake of the change of ownership, Aragon AG will elect a new President of the Supervisory Board. Dr. Herbert Walter, management consultant and former CEO of Dresdner Bank will become Chairman of the Supervisory Board. Well-known capital markets attorney Dr. Christian Waigel will be Vice-Chairman.
'Notwithstanding the challanging market environment, we are convinced that Aragon is a very attractive investment', said Aragon CEO Dr. Sebastian Grabmaier. 'With our buyout, we are giving strong proof of our long term committment. We are very confident that due to our concentration on core activities and cost-cutting measures already in place, we will lead our corporation back to former profitability.'
About Aragon AG
Aragon AG is a broadly diversified financial services group with two operating segments, Broker Pools and Financial Consulting, and an operating Holding division. Within its segments, Aragon AG operates in the market with several independently acting subsidiaries. The aim is to integrate various sales models under one roof without infringing on the identity of each individual sales operation. This leads to broad diversification across numerous asset classes and distribution channels and, as a result, ensures high earnings stability. Further information about the company and its subsidiaries can be found at www.aragon.ag.
Press contact
Folker Dries
HERING SCHUPPENER
Unternehmensberatung für Kommunikation GmbH
Mobil +49.151.16 23 15 56
Mail fdries@heringschuppener.com
Contact:
Ralf Funke
Investor Relations
Tel.: +49(0)611 890 575-0
Fax: +49(0)611 890 575-99
E-Mail: ir@aragon.ag
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