In 2014, the Dürr Group acquired a majority stake in HOMAG Group AG through Dürr Technologies GmbH. Dürr and HOMAG subsequently entered into a domination and profit and loss transfer agreement in 2015. Under this agreement, Dürr committed to paying HOMAG shareholders who tender their shares to Dürr Technologies GmbH a cash settlement of €31.56 per share. In addition, a guaranteed dividend of €1.18 gross per share was set. In the subsequent valuation proceedings initiated by HOMAG shareholders, the Regional Court of Stuttgart slightly increased the cash settlement to €31.58 and the guaranteed dividend to €1.19 gross in 2019. An appeal against this decision has now been rejected in a final judgment by the Higher Regional Court of Stuttgart.
The judgment of the Higher Regional Court of Stuttgart was handed down shortly before Christmas 2024 and has been published in the Federal Gazette on January 3, 2025. This marked the start of a two-month period during which HOMAG shareholders can tender their shares to Dürr at a price of €31.58 per share. Once the tender period expires, the cash settlement offer will no longer be valid. The guaranteed dividend of €1.19 gross per share is paid annually replacing a variable dividend payment.
At the publication date of the Federal Gazette, Dürr held 67.7% of HOMAG shares, 14.1% were held by the Schuler and Klessmann families, 18.2% were in free float. Under the terms of a pooling agreement concluded with the Schuler/Klessmann shareholder group, Dürr holds around 82% of the voting rights at HOMAG’s annual general meeting. The domination and profit and loss transfer agreement governs the integration of HOMAG Group AG into the Dürr Group and simplifies the collaboration between Dürr and HOMAG. Under the terms of this agreement, the entire net profit earned by HOMAG Group AG accrues to Dürr. HOMAG’s non-controlling shareholders receive the guaranteed dividend.