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Rocket-Internet shareholders approve stock market withdrawal
September 25, 2020
The start-up investor Rocket Internet, which founds or invests in Internet and technology companies, may go private. At the AGM, a majority of 81 pct. of the share capital voted in favor of the move. The Group plans to buy back share certificates directly from the shareholders at EUR 18.57 each. At the beginning of September, Rocket announced that it wanted to withdraw from the stock exchange after about six years. The capital market has lost importance as a financing option for the company. The Samwer brothers hold about half of Rocket Internet, mostly through the vehicle Global Founders GmbH. With EUR 1.9bn, the group holds enough cash to cover the repurchase of the remaining own securities.
ⓘ This story was originally featured in our daily M&A Insights newsletter.
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