Microsoft Word - 160210_CIE_HSR_Oferta_Dominion_Abantia_EN



A TO THE SPANISH SECURITIES AND EXCHANGE COMMISSION DISCLOSURE OF A RELEVANT EVENT


Following article 228 of the Royal Legislative Decree Law 4/2015, dated October 23, on the Securities' Market and applicable legislation, CIE Automotive, S.A. releases that its subsidiary Global Dominion Access S.A. (hereinafter, "Dominion") has filed, within the insolvency process ("concurso de acreedores") of Abantia Empresarial S.L and subsidiaries (hereinafter, "Grupo Abantia"), an offer to purchase the Installations, Maintenance, Industrial assembly and Renewable energies business units, which represent most of the turnover of Grupo Abantia.

Dominion would purchase such assets for a consideration of around 2 million euros and would only assume, pursuant to current legislation, labour and Social Security related liabilities.

Once the transaction is completed, Dominion intends to implement an action plan which would enable to maintain the activities included in the offer as well as the employments related to such assets. Such action plan contemplates Dominion providing financing to such business units for an amount around 25 million euros.

The offer filed by Dominion is contitioned to its acceptance pursuant to the analysis and approval of the competent Court dealing with the insolvency process of Grupo Abantia. This is expected to take place within the next weeks, provided Grupo Abantia -which had already filed for a preliminary insolvency process ("preconcurso") on December 18, 2015- has filed today a voluntary request for insolvency to the Commercial Court of Barcelona.

These businesses, once integrated into Dominion, will enhance existing synergies, as well as a higher international projection and a reinforcement in the financial strength of the business units to be acquired.

Grupo Abantia currently employs 1.500 persons in Spain; Dominion intends to integrate the employees included in the business units to be purchased, which represent approximately 70% of the total current workforce of Grupo Abantia.


Bilbao, February 10, 2016. Roberto Alonso Ruiz.

Secretary to the Board of Directors

CIE Automotive SA issued this content on 10 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 February 2016 09:15:35 UTC

Original Document: http://www.cieautomotive.com/inversores/files/160210_CIE_HSR_Oferta_Dominion_Abantia_EN.pdf