Kyocera Mita to takeover Triumph-Adler of Germany

Osaka, Japan-based, Kyocera Mita Corporation is planning to take over TA Triumph-Adler AG, a leading specialist in the document business, by expanding its stake in the German company to around 60-75 per cent from the current 29.9 per cent.

Kyocera Mita, the electronics manufacturer, will submit a voluntary public takeover offer to secure around 60-75 per cent at €1.90 ($2.40) to the shareholders of TA Triumph-Adler AG, valuing the company at €105 million ($133 million).

Kyocera Mita has already made the official announcement of the tender offer in Germany as per the legal provisions of the German Takeover Act (WpUG).

Initial discussions between Kyocera Mita and Triumph-Adler relating to the takeover offer have already taken place. Both companies are confident, that the acquisition will strengthen its existing ties and open significant growth perspectives for Kyocera Mita and Triumph-Adler.

The board of Triumph-Adler, said that it "adopts an essentially positive stance" to the plans, since Kyocera Mita takeover plans has "advantages for the staff members, shareholders and customers of the Triumph-Adler Group."

Kyocera Mita also has business with TA Triumph-Adler AG for more than 30 years where it supplies digital copiers, fax machines and printers to Triumph-Adler who in turn leases and maintains them.