Bremen (pta020/03.09.2021/14:40) - Bremen, 9 September 2021. The OHB Group has sold its stake in Orbcomm Inc. (USA). OHB has accepted the offer of the US company GI Partners to acquire all shares and has sold its 2.8% stake in Orbcomm Inc. for USD 25.6 million. The selling price of USD 11.50 represents a premium of approximately 52% to the closing price of ORBCOMM stock on April 7 (the last trading day prior to the announcement of the takeover offer) and a premium of 50% to the 90-day volume weighted average price up to that date.
The OHB Group's existing business relations with Orbcomm Inc. will continue unaffected by the sale of the shares. Marco Fuchs, CEO of OHB SE, has ceased to be a member of the Supervisory Board of Orbcomm Inc.(end)
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