Superior Industries To Commence Tender Offer For UNIWHEELS - Quick Facts

(RTTNews) - Superior Industries International, Inc. (SUP) announced it will commence a tender offer for 100% of the outstanding shares of UNIWHEELS AG on March 23, 2017. The owner of 61% of UNIWHEELS' outstanding shares, UNIWHEELS Malta, has irrevocably agreed to tender its shares. UNIWHEELS Malta will receive cash consideration of 226.5zl per share upon close of the tender offer. UNIWHEELS public shareholders will receive cash consideration of approximately 236zl per share. The aggregate equity purchase price, assuming all outstanding shares are tendered, is anticipated to be approximately $715 million. The tender offer is expected to close around the end of May 2017.

Headquartered in Germany, UNIWHEELS is the third largest supplier of aluminum wheels to the European OEM automotive market, as well as Europe's leading manufacturer of aluminum wheels for the automotive aftermarket. UNIWHEELS' shares are traded on the Warsaw Stock Exchange.

Following completion of the transaction and reflecting its new capital structure, Superior Industries anticipates that it will reduce its annual dividend from $0.72 per share to $0.36 per share. Superior anticipates the deal to be immediately accretive to earnings per share. Superior expects $15 million in annual run-rate synergies by 2020.