S&P: Logwin unchanged

Standard & Poor's said that its ratings and outlook on Logwin AG (formerly Thiel Logistik AG; B/stable) remain unchanged following the announcement by majority shareholder, Delton Vermoegensverwaltung Aktiengesellschaft, to make a voluntary public tender offer to all shareholders of Logwin to acquire their shares in the group.

The agency said that Delton VA, a subsidiary of Delton AG (not rated), holds about 53.71% of the shares and voting rights in Logwin and has publicly announced an offer price for the remaining shares of €1.55 per share in cash, valuing the group at around €170 million.

s Delton VA is already a majority shareholder, the conclusion of its offer is unlikely to have any adverse effect on Logwin's credit lines or outstanding bonds, the agency said, noting that it also does note expect the group to incur any additional financial burden as a result of the offer, which, if successful, may take several months to conclude.

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