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 - 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.
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