Seeks to Invest in Customer Base for SAP Human Capital Management / Ad-hoc: All for One Steeb AG
Filderstadt, 10 October 2013 – All for One Steeb AG, the leading integrated full-service provider in the German-speaking SAP midmarket segment, intends to further expand its activities relating to SAP Human Capital Management. To accomplish this, increased investments in the customers and services of its largest Group company are intended. The equity interest in the subsidiary KWP Kümmel, Wiedmann + Partner Unternehmensberatung GmbH, Heilbronn, (KWP), is to be increased from its current 56% to 100%. KWP shareholder and managing director Hartmut Kümmel intends to contribute his share of KWP in the amount of 34% of the nominal capital in return for which he is to receive 122,000 new shares of All for One Steeb AG stock and a cash payment. This action would involve increasing All for One Steeb AG’s share capital – presently EUR 14.58 million and divided into 4,860,000 registered shares – to EUR 14.946 million divided into 4,982,000 shares. The interest in KWP held by Joachim Volpert (10% of the nominal capital) is, however, to be compensated for in cash.
The management board of All for One Steeb AG reached an underlying agreement about the terms of the transaction with Kümmel and Volpert on 10 October 2013. The management board is expected to adopt the resolution for the capital increase before the end of autumn 2013. The capital increase and the agreements to be concluded in connection with the acquisition of the shareholdings still require the approval of the supervisory board, and the increase in the equity interest in KWP may also require authorisation from antitrust authorities.
Following a robust growth phase in recent years, KWP is recognised as a market leader for SAP ERP Human Capital Management, most recently (financial year 2011/12) generated revenues of nearly EUR 17 million and currently employs more than 140 People.