Ah-Hoc Releases

Major shareholders sell 65 % of the company

Cologne, 25th May 2020

The major shareholders of De Raj Group AG, members of the De Raj family, have just informed the company and announced that they have sold their 65 % shareholding in the company. The share purchase agreement has been signed today.

The buyer is Standard Paper & Board Singapore Pte. Ltd, a privately held company based in Singapore. It will acquire the 22.75 m shares previously held by Alexander, Nicholas and Renata De Raj and by Nagendran Nadarajah. The buyer is managed and controlled by Mr. Yennarkay R Chiranjeevi Rathnam from Standard Fire Works Group, a large industrial conglomerate from South India.

The purchase of the De Raj family shares triggers a mandatory public offer to the outside shareholders of De Raj Group AG. Details will be announced in the coming days.

With this acquisition, Standard Paper & Board Singapore Pte. Ltd is implementing its plans to expand its business activities in the field of renewable energy, which De Raj Group recently expanded in many different countries. The entry of the new shareholder will enable De Raj Group to leverage its resources for further growth.