Successful Tender Offer for the Preference Shares of WMF AG
Munich (ots) -
- Voluntary public tender offer expired - all offer conditions
have been met
- Circa 74.70 per cent of the outstanding preference shares of
WMF have been tendered
- Together with shares acquired outside the offer and in
combination with shares held by FIBA, a shareholding quota of
circa 90.30 per cent is reached
- Voluntary public tender offer expired - all offer conditions
have been met
- Circa 74.70 per cent of the outstanding preference shares of
WMF have been tendered
- Together with shares acquired outside the offer and in
combination with shares held by FIBA, a shareholding quota of
circa 90.30 per cent is reached
- Squeeze-out of the remaining shareholders of WMF AG planned
Finedining Capital GmbH ("Finedining Capital"), a holding company
controlled by funds advised by KKR (together with affiliates, "KKR"),
today announced the success of the voluntary public tender offer for
the preference shares (ISIN DE0007803033) of WMF AG ("WMF").
All offer conditions including necessary merger control clearances
have been fulfilled. 3,237,692 preference shares have been tendered
into the offer until the end of the acceptance period on 25 August
2014. This corresponds to circa 74.70 per cent of the outstanding
preference shares.
Together with shares acquired outside the offer and in combination
with shares held by FIBA Beteiligungs- und Anlage GmbH ("FIBA"), a
shareholding quota of circa 90.30 per cent of WMF's stated capital -
excluding the treasury shares held by WMF - is reached. Therefore the
minimum shareholding requirement under the tender offer has been
satisfied. Finedining Capital intends to pursue the previously
announced plan to exclude the remaining shareholders of WMF AG by way
of a merger-related squeeze-out under the German Transformation Act
(Umwandlungsgesetz).
Settlement of the tender offer and payment of the offer price of
EUR 58 per preference share to WMF shareholders who have accepted the
offer will likely be made on 3 September 2014.
Additional information on the expired voluntary tender offer is
available on www.finedining-offer.com.
KKR is a leading global investment firm that manages investments
across multiple asset classes including private equity, energy,
infrastructure, real estate, credit and hedge funds. KKR aims to
generate attractive investment returns by following a patient and
disciplined investment approach, employing world-class people, and
driving growth and value creation at the asset level. KKR invests its
own capital alongside its partners' capital and brings opportunities
to others through its capital markets business. References to KKR's
investments may include the activities of its sponsored funds. For
additional information about KKR & Co. L.P. (NYSE: KKR), please visit
KKR's website at www.kkr.com.
Disclaimer and Forward-Looking Statement
This release may contain forward-looking statements, including
such related to the public tender offer, the expected future business
of WMF AG, Finedining Capital GmbH and other entities, and the
expected benefits to customers, employees and shareholders. These
statements are based on the current expectations of the management of
Finedining Capital GmbH and persons acting jointly therewith pursuant
to section 2 para. 5 WpÜG and are inherently subject to risks,
uncertainties and changes in circumstances. These expectations or any
forward-looking statements could prove to be incorrect, and actual
results could differ materially from those projected or assumed in
the forward-looking statements. The potential risks, uncertainties
and changes in circumstances that could cause actual results to
differ from those expected include, among others, risks related to
the settlement of the public tender offer and the failure of the
market to develop as expected. Finedining Capital GmbH and persons
acting jointly therewith pursuant to section 2 para. 5 WpÜG do not
undertake any obligation to update the forward-looking statements to
reflect actual results, or any change in events, conditions,
assumptions or other factors.
Originaltext: Finedining Capital GmbH
digital press kits: http://www.presseportal.de/pm/113795
press kits via RSS: http://www.presseportal.de/rss/pm_113795.rss2
Press contact KKR:
Dominik Veit
Phone: +49(0)69 92187487
Email: dveit@heringschuppener.com
Finedining Capital GmbH ("Finedining Capital"), a holding company
controlled by funds advised by KKR (together with affiliates, "KKR"),
today announced the success of the voluntary public tender offer for
the preference shares (ISIN DE0007803033) of WMF AG ("WMF").
All offer conditions including necessary merger control clearances
have been fulfilled. 3,237,692 preference shares have been tendered
into the offer until the end of the acceptance period on 25 August
2014. This corresponds to circa 74.70 per cent of the outstanding
preference shares.
Together with shares acquired outside the offer and in combination
with shares held by FIBA Beteiligungs- und Anlage GmbH ("FIBA"), a
shareholding quota of circa 90.30 per cent of WMF's stated capital -
excluding the treasury shares held by WMF - is reached. Therefore the
minimum shareholding requirement under the tender offer has been
satisfied. Finedining Capital intends to pursue the previously
announced plan to exclude the remaining shareholders of WMF AG by way
of a merger-related squeeze-out under the German Transformation Act
(Umwandlungsgesetz).
Settlement of the tender offer and payment of the offer price of
EUR 58 per preference share to WMF shareholders who have accepted the
offer will likely be made on 3 September 2014.
Additional information on the expired voluntary tender offer is
available on www.finedining-offer.com.
KKR is a leading global investment firm that manages investments
across multiple asset classes including private equity, energy,
infrastructure, real estate, credit and hedge funds. KKR aims to
generate attractive investment returns by following a patient and
disciplined investment approach, employing world-class people, and
driving growth and value creation at the asset level. KKR invests its
own capital alongside its partners' capital and brings opportunities
to others through its capital markets business. References to KKR's
investments may include the activities of its sponsored funds. For
additional information about KKR & Co. L.P. (NYSE: KKR), please visit
KKR's website at www.kkr.com.
Disclaimer and Forward-Looking Statement
This release may contain forward-looking statements, including
such related to the public tender offer, the expected future business
of WMF AG, Finedining Capital GmbH and other entities, and the
expected benefits to customers, employees and shareholders. These
statements are based on the current expectations of the management of
Finedining Capital GmbH and persons acting jointly therewith pursuant
to section 2 para. 5 WpÜG and are inherently subject to risks,
uncertainties and changes in circumstances. These expectations or any
forward-looking statements could prove to be incorrect, and actual
results could differ materially from those projected or assumed in
the forward-looking statements. The potential risks, uncertainties
and changes in circumstances that could cause actual results to
differ from those expected include, among others, risks related to
the settlement of the public tender offer and the failure of the
market to develop as expected. Finedining Capital GmbH and persons
acting jointly therewith pursuant to section 2 para. 5 WpÜG do not
undertake any obligation to update the forward-looking statements to
reflect actual results, or any change in events, conditions,
assumptions or other factors.
Originaltext: Finedining Capital GmbH
digital press kits: http://www.presseportal.de/pm/113795
press kits via RSS: http://www.presseportal.de/rss/pm_113795.rss2
Press contact KKR:
Dominik Veit
Phone: +49(0)69 92187487
Email: dveit@heringschuppener.com
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