Pricoa Takes Control of Keymile

Pricoa Capital Group takes full ownership of Keymile

August 2, 2005

1 Min Read

HANNOVER, Germany -- Starting June 29th, 2005 KEYMILE AG, a leading manufacturer and provider of 'Next-Generation-Access-Systems' with integrated central network management, is 100% owned by Funds advised by PRICOA Capital Group("PCG") through its subsidiary Valtipart S.A. As a result of this transfer in ownership the bank liabilities of the entire KEYMILE group were reduced by approximately 63 percent to now 17,7 million Euro. Its strengthened balance sheet allows KEYMILE to focus even stronger on the development of new technologies for 'Next-Generation-Access-Systems' and to offer flexible and future-oriented access solutions to its customers.

The PRICOA Funds were already invested in KEYMILE as Mezzanine lender and were also represented at the KEYMILE supervisory board. PRICOA Capital Group [1] is the international private placement investment arm of Prudential Financial, Inc., and one of the leading US investors of private capital, which manages a portfolio of US$ 39 billion. PRICOA Capital Group has a market presence of almost 20 years in London and more than 10 years in Frankfurt. PRICOA Capital Group was one of the first financial institutions to offer private placements and mezzanine financing in Europe.

"We are pleased to have won such a high reputable investor as new shareholder", explains Dr. Ziaedin Chahabadi, CEO of KEYMILE AG. "The transaction is the result of a longstanding trustful co-operation between KEYMILE and PRICOA and reflects the high confidence into our enterprise strategy as well as into our leading team. The new shareholder pursues a medium to long-term growth strategy, which allows us to further strengthen the business and make it even more successful."

Keymile AG

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