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DGAP-News: Scholz AG: Toyota Tsusho Corporation steigt mit 39,9 % bei Scholz AG ein/ Toyota Tsusho Corporation will take a 39.9 % stake in Scholz AG
Scholz AG Press Release

Essingen, 10 April 2014

Toyota Tsusho Corporation will take a 39.9 % stake in Scholz AG

- A significant strengthening of the recycling group's financial situation

- A long-term focussed investor with a strong balance sheet provides new strategic perspectives for Scholz

- CEO Oliver Scholz: "We have found our preferred partner in Toyota Tsusho"

The structured investor process for Scholz AG has reached a successful outcome: Toyota Tsusho Corporation (TTC), Nagoya/ Japan, will take a shareholding of 39.9% in Scholz AG, Essingen. This investment will lead to a considerable improvement of the international recycling group's financial situation.

On this basis the restructuring process shall be successfully completed. The majority shareholding of Scholz AG will stay with the Scholz family who will hold 60.1% in Scholz AG. It has been agreed that TTC will send representatives to Scholz AG's Board of Directors. The CEO position will remain unchanged and is held by Mr. Oliver Scholz.

TTC and Scholz have been working together for more than 10 years. Since 2008 they have been joint venture partners in the recycling company Green Metals in Poland. Toyota Tsusho Corporation is currently acting in more than 60 countries on a global scale and achieved sales of approximately YEN 6.3bn (currently approximately EUR 44bn) in fiscal year 2012/2013 (balance sheet date: 31 March 2013).

Oliver Scholz, CEO of Scholz AG, commented: "As promised we swiftly lead the investor process to a successful outcome which started in QIV/2013. We have found our preferred partner in Toyota Tsusho. Toyota Tsusho Corporation has a long-term focus, extensive capital resources and is closely linked to Scholz as a business partner for a number of years. The partnership with Toyota Tsusho Corporation will unveil new and interesting strategic perspectives for our group of companies such as an exchange of achievements in
Research & Development or access to a globally growing market for end-of-life vehicles. Hence, this is a great day for our business, our employees, our customers and our suppliers."

Closing condition for the agreed transaction is the continued support of Scholz AG's existing financing partners. The closing of the agreement is scheduled for the second quarter of 2014 after achieving approval from relevant anti-trust and merger control authorities.
 
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