Rheinmetall Plans Takeover of Simrad Optronics ASA

06.05.2010 Europe

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Rheinmetall reached an agreement with Simrad Optronics ASA of Norway, under which the German company will make a voluntary cash offer for 100% of the shares of Simrad Optronics. Simrad Optronics ASA is listed on the Oslo stock exchange. Rheinmetall plans to offer a cash consideration of NOK 8.25 (approx. € 1.05) per share, valuing the total share capital of Simrad Optronics at approximately NOK 591 million (€ 75.4 million). Simrad Optronics Board of Directors has recommended to its shareholders to accept the offer.
Simrad Optronics ASA is a global supplier of components for remote control weapon stations; electro-optical instruments; and weapon system upgrades.

The company has some 200 employees and is headquartered in Notteroy, Norway. Its sales last year came to roughly NOK 624 million (approx. € 80 million).


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