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Board of Directors to present proposal to merge Nemak and Controladora Nemak
Monterrey, Mexico. June 29, 2021. - Nemak, S.A.B. de C.V. ("Nemak") (BMV: NEMAK) today announced that its Board of Directors will present a proposal to merge Controladora Nemak, S.A.B. de C.V. ("Controladora Nemak") (BMV: NMK) into Nemak at an Extraordinary General Shareholders’ Meeting to be held on July 29, 2021.
“We expect that this transaction will strengthen our profile as a publicly traded company, delivering the potential for improved stock liquidity and performance under a single listed entity," said Armando Tamez, CEO of Nemak. “We encourage our shareholders to exercise their voting rights and lend their support to this proposal at our upcoming General Extraordinary Shareholders’ Meeting on July 29."
Nemak has provided further information related to the registration procedure to attend the General Extraordinary Shareholders’ Meeting at: https://investors.nemak.com/
Controladora Nemak is the owner of Alfa, S.A.B. de C.V.’s former shareholding in Nemak, with shares trading on the Mexican Stock Exchange since December 2020. The main asset of Controladora Nemak is shares representing Nemak’s capital. Upon the consummation of the proposed transaction, Controladora Nemak will cease to exist and its shares will be cancelled; Nemak will be the surviving company and the number of its outstanding shares will remain unchanged.
As required by applicable law and regulations, the parties prepared an information memorandum for this transaction, which will be available at https://investors.nemak.com/ and the Mexican Stock Exchange’s website www.bmv.com.mx as of June 30, 2021.
Nemak is a leading provider of innovative lightweighting solutions for the global automotive industry, specializing in the development and manufacturing of aluminum components for powertrain, e-mobility, and structural applications. In 2020, it generated revenue of US$3.2 billion. For more information about Nemak, visit https://www.nemak.com/