Umicore intends to launch squeeze-out for remainder of Agosi shares

Umicore has informed its listed subsidiary Allgemeine Gold- und Silberscheideanstalt AG (“Agosi”) that it intends to purchase the 8.8 % shares it does not yet own from Agosi’s minority shareholders through a merger squeeze-out in accordance with German law. To determine the cash compensation for Agosi’s minority shareholders, a valuation of Agosi will be carried out by an independent valuer appointed by Umicore and a court-appointed auditor. 

Following a squeeze-out and subsequent delisting, Umicore would have flexibility to consider strategic options for the Jewelry & Industrial Metals activities within Agosi. These activities perform well from a commercial and financial point of view and Umicore wants to explore the best conditions for their further development. 

Umicore expects that the merger squeeze-out would be resolved upon by the general meeting of Agosi in the second or third quarter of 2021.


Note to the editor:

Umicore acquired Agosi upon the acquisition of the Precious Metals Group (“PMG”) in 2003 and currently holds 91.2 % of its shares. Agosi shares are listed on the Munich Freiverkehr stock exchange. 

 Agosi, headquartered in Pforzheim, Germany, has an international presence and offers the full precious metals cycle and other precious metals services for the jewelry and coin industries, as well as for various industrial applications in electrical engineering, in automotive, in the chemical industry and in medical technology. Agosi’s activities are integrated in Umicore’s Jewelry & Industrial Metals business unit and one Agosi subsidiary is part of Umicore’s Electroplating business unit. 


For more information on Agosi, please visit:


Agosi and its subsidiaries are fully consolidated in Umicore’s financial statements and are listed in Umicore’s Annual Report, note F5 “Group Companies”, p. 122.  


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For more information please contact

Eva Behaeghe

Investor Relations Manager
T: +32 2 227 70 68

Aurélie Bultynck

Investor Relations Manager
T: +32 2 227 74 34

Marjolein Scheers

Media & External Affairs Manager
T: +32 2 227 71 47

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