NORTH CANTON, Ohio and
PADERBORN, Germany, March 16, 2017 /PRNewswire/ -- Diebold
Nixdorf, Incorporated (NYSE: DBD), a world leader in enabling
connected commerce for millions of consumers across the financial
and retail industries, today announced that the U.K. Competition
and Markets Authority (CMA) has published its official findings in
connection with the business combination of Diebold, Incorporated
and Wincor Nixdorf AG in the U.K.
The CMA has concluded that a structural remedy is required.
Diebold Nixdorf is now actively
pursuing a divestiture of its legacy Diebold business in the U.K.
with a potential purchaser. The company believes it can satisfy the
CMA's requirements and conclude this transaction as soon as
practicable.
Outside the U.K., Diebold Nixdorf
continues to implement its multi-year business transformation
program, DN2020, which aligns the company around executing common
strategies and goals to drive innovation to meet the needs of its
customers and deliver shareholder value. Diebold Nixdorf today reconfirmed the company's
previously disclosed financial targets for 2020, including net cost
improvement of $200 million and
non-GAAP earnings per share of approximately $3.501 as the combination benefits
clearly outweigh the impact of the planned divestiture of the
legacy Diebold business in the U.K.
On Aug. 15, 2016, Diebold
completed its acquisition of Wincor Nixdorf, achieving approval
from shareholders and regulatory authorities around the world. In
the U.K., the Diebold and Wincor Nixdorf brands and operations have
remained separate and distinct while awaiting CMA review.
Forward-Looking Statements
Certain statements
contained in this communication regarding matters that are not
historical facts are forward-looking statements (as defined in the
Private Securities Litigation Reform Act of 1995). These include
statements regarding management's intentions, plans, beliefs,
expectations or forecasts for the future including, without
limitation, the business combination with Wincor Nixdorf. Such
forward-looking statements are based on the current expectations of
Diebold and involve risks and uncertainties; consequently, actual
results may differ materially from those expressed or implied in
the statements. By their nature, forward-looking statements involve
risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance
and actual results of operations, financial condition and
liquidity, and the development of the industries in which the
combined company operates may differ materially from those made in
or suggested by the forward-looking statements contained in this
document. In addition, risks and uncertainties related to the
acquisition include, but are not limited to, the ability to
successfully integrate the businesses of Diebold and Wincor
Nixdorf, the timing, receipt and terms and conditions of any
governmental and regulatory approvals that could reduce anticipated
benefits or cause the parties to abandon the business combination,
risks associated with the impact of the business combination
agreement, the domination and profit and loss transfer agreement
and any related litigation may have on the business and operations
of the combined company, risks related to disruption of management
time from ongoing business operations due to the acquisition, and
the risk that the acquisition could have an adverse effect on the
ability of the combined company to retain and hire key personnel
and maintain relationships with its suppliers, and on its operating
results and businesses generally. These risks, as well as other
risks are more fully discussed in Diebold's reports filed with the
SEC and available at the SEC's website at www.sec.gov. Any
forward‑looking statements speak only as at the date of this
document. Except as required by applicable law, neither Diebold nor
Wincor Nixdorf undertakes any obligation to update or revise
publicly any forward-looking statement, whether as a result of new
information, future events or otherwise.
About Diebold Nixdorf
Diebold Nixdorf, Incorporated
(NYSE:DBD) is a world leader in enabling connected commerce for
millions of consumers each day across the financial and retail
industries. Its software-defined solutions bridge the physical and
digital worlds of cash and consumer transactions conveniently,
securely and efficiently. As an innovation partner for nearly all
of the world's top 100 financial institutions and a majority of the
top 25 global retailers, Diebold
Nixdorf delivers unparalleled services and technology that
are essential to evolve in an 'always on' and changing consumer
landscape.
Diebold Nixdorf has a presence in
more than 130 countries with approximately 25,000 employees
worldwide. The organization maintains corporate offices in
North Canton, Ohio, USA and
Paderborn, Germany. Shares are
traded on the New York and
Frankfurt Stock Exchanges under the symbol 'DBD'. Visit
www.DieboldNixdorf.com for more information.
1 - Based on 30% non-GAAP effective tax rate. With respect
to the company's financial targets for 2020, the inability to
predict the amount and timing of future items makes a detailed
reconciliation of these projections impracticable.
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SOURCE Diebold Nixdorf