April 03, 2018
Saur: transitioning to a new shareholder structure to support the development of the group
The Saur group Supervisory board has taken the decision to seek one or more financially stable partners to support the development of the company. The current shareholders may remain shareholders up to a maximum equity stake of 30%. The decision by the Supervisory board to adopt this option reflects its confidence in the company and its management. It provides continuity of governance and highlights its support as an integral part of the Initiative 2022 strategic plan. As approved by the Supervisory board, the potential investor selection criteria are designed to ensure the long-term future of the group on the basis of its Initiative 2022 plan. This strategic plan asserts the Saur ambition to increase its annual revenue to €2 billion between now and 2022 by introducing new investment capability for its water core businesses and pursuing a strategy focused on innovation, local presence and customer service that will set the group apart distinctively from its competitors. It will therefore be seeking shareholders with recognised experience in infrastructure asset management and a desire to enter into a long-term commitment. They will be required to commit to complying with criteria designed to protect the interests of the company and its people. This new stage in the development of the group will secure its financial position and borrowings under currently favourable market conditions. Saur Executive Chairman Louis-Roch Burgard is delighted with “the criteria adopted for the process of selecting one or more new investors. They ensure the long-term future of the company and give us the resources we need for our development. Saur intends to offer its customers an innovative product and service offering and commit the Group to social responsibility as part of its contribution to ensuring that water remains a high-quality basic essential available to all. This new stage in the growth of our group is excellent news for our people, our local authority customers and consumers”.