At an Extraordinary General Meeting, the shareholders of CPH Chemie + Papier Holding AG have approved the separation of the paper business from the chemicals and packaging activities. The separation was already proposed in March 2024 and has now been approved with more than 98 per cent of the votes.
This means that the CPH Two focussed companies, which will be able to successfully implement their respective strategies in the future: The globally active growth company under the new name CPH Group AG, with its chemicals (Zeochem) and packaging (Perlen Packaging) divisions, and Perlen Industrieholding AG, in which the paper business (Perlen Papier AG) and the real estate on the industrial site in Perlen are bundled.
The spin-off of the Paper Division and the real estate in Perlen will be implemented by means of a capital reduction and distribution to shareholders in the form of a dividend in kind. As already communicated in the invitation to the Extraordinary General Meeting at the end of May 2024, it can be assumed on an indicative basis and based on internal valuations that around 72 percent of the value of the former CPH Group can be allocated to the remaining CPH Group AG and around 28 percent to the demerged Perlen Industrieholding AG.
The approved transaction offers the opportunity to significantly increase the global market presence of the newly renamed CPH Group AG with its Chemicals and Packaging divisions and to equip the company for the future. Geographically, the Focus on international niche markets with above-average growth opportunities in the regions of Asia, the USA and Latin America. At the same time, the continuation of the Perlen Papier AG brand represents a clear commitment to the paper business, which is highly competitive thanks to its high productivity. As a virtually debt-free company, CPH Chemie + Papier Holding AG is acting with foresight and from a position of strength with this transaction. The family anchor shareholders support the transaction and remain invested in both companies.
„We welcome today's decision by our shareholders to approve the separation of our paper business and Perlen real estate to create two independent companies with a clear focus on their businesses. We are convinced that both CPH Group AG and the new Perlen Industrieholding AG will be able to consistently implement their strategies and thereby sustainably increase the company's overall value.“
Peter Schaub, Chairman of the Board of Directors of CPH Chemie + Papier Holding AG
Source: CPH
