May 30, 2012. /Lesprom Network/. International technology Group Andritz, based in Graz, Austria, has signed an agreement with Schuler-Beteiligungen GmbH to acquire the entire 38.5% interest held by Schuler-Beteiligungen GmbH in publicly listed Schuler AG, headquartered in Göppingen, Germany. The price per share amounts to Euro 20.00 in cash, as the company said in a press release received by Lesprom Network. In addition, Andritz has announced a voluntary public takeover offer in accordance with Section 10, Para. 1, in conjunction with Sections 29 and 34 of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz, WpÜG) to the remaining shareholders for the acquisition of the outstanding shares (i.e. 61.5% of Schuler AG's capital stock). Via a German affiliate, Andritz is offering also the remaining shareholders of Schuler AG Euro 20.00 per share in cash. The offer thus represents a premium of 26.34% over the XETRA closing price for Schuler shares on May 28, 2012 (Euro 15.83) and 35.32% over the volume-weighted average XETRA price of the share in the past three months (Euro 14.78). Enforcement of the acquisition of Schuler-Beteiligungen GmbH's block of shares as well as the takeover offer are exclusively contingent upon approval of both transactions by the anti-trust authorities. The Andritz Group has a net cash position of approximately Euro 1.3 billion as of the end of March 2012 and is thus able to acquire Schuler AG out of its own financial resources. The Andritz Group is a globally leading supplier of plants, equipment, and services for hydropower stations, the pulp and paper industry, solid/liquid separation in the municipal and industrial sectors, the steel industry, and the production of animal feed and biomass pellets.