ZURICH Glattbrugg, Sept. 26, 2019 – gategroup Holding AG today announced that Temasek has converted its mandatory exchangeable bond and acquired additional shares resulting in a 50 percent stake in gategroup. They are now co-shareholders with RRJ Capital, who owns the remaining 50 percent of the company. The transaction was completed on Sept. 25, 2019.
Temasek is a recognized, long-term investor headquartered in Singapore, with an impressive shareholder’s return track record. With this change, gategroup also announces the appointment of Uwe Krueger, senior managing director, Temasek, to its board of directors.
Richard Ong, founder and chairman of RRJ Capital and gategroup’s Chairman of the Board said: “We are pleased to welcome Temasek as co-shareholder of gategroup. Over the past three years gategroup has, thanks to its strong management team, made swift progress on the implementation of their successful Gateway 2020 Strategy. Together with Temasek we look forward to supporting their growth aspirations.”
Xavier Rossinyol, CEO of gategroup said: “This is yet another step forward in the transformational journey of gategroup and excellent news for our employees and customers. We are absolutely delighted to continue to work with Temasek and RRJ Capital going forward as they contribute their expertise, network and growth track record to gategroup,” he continued.
