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Squeeze-out initiated for GfK SE
London & Nuremberg (ots) - Acceleratio Capital N.V., a holding company controlled by funds advised by Kohlberg Kravis Roberts & Co. L.P. (together with affiliates, "KKR"), today initiated a squeeze-out of minority shareholders against payment of a cash compensation in order to acquire all shares in GfK SE.
As announced before, Acceleratio Capital N.V. and GfK Verein together held more than 75 percent of the share capital and voting rights of GfK SE following completion of the voluntary public takeover offer. In addition, Acceleratio Capital N.V. together with affiliates has acquired GfK shares off-market corresponding to about 20.9 percent of the shares of GfK SE. Now, Acceleratio Capital N.V. holds 35,285,787 shares in GfK SE representing 96.7 percent of the share capital and voting rights of GfK SE.
A shareholding quota of more than 95 percent allows for a squeeze-out of the minority shareholders and hence a de-listing of GfK SE. On 22 March 2017, Acceleratio Capital N.V. and GfK Verein already informed GfK SE about their intention to initiate a squeeze-out. Today, Acceleratio Capital N.V. formally provided GfK SE with the request pursuant to section 327a para. 1 sentence 1 of the German Stock Corporation Act (Aktiengesetz) that GfK SE's general meeting shall resolve upon the transfer of all shares of the minority shareholders to Acceleratio Capital N.V. The amount of the cash compensation will be determined at a later date. The exact date of the general meeting of GfK SE will be communicated by GfK SE in due course.
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 worldclass 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 and on Twitter @KKR_Co.
Disclaimer and Forward-Looking Statement
This release is neither an offer to purchase nor a solicitation of an offer to sell GfK shares or any other security. The offer document, the terms and conditions contained therein shall have sole relevance in respect to the offer. Investors and holders of shares in GfK are advised to read the relevant documents regarding the tender offer published by Acceleratio Capital N.V. as they contain important information. Investors and holders of shares in GfK can receive the offer document as well as other documents in connection with the offer from the website www.acceleratio-angebot.de.
The information herein may contain "forward-looking statements" that may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "estimates" or words of similar meaning about the expected future business of Acceleratio Capital N.V., GfK or any other entity. These statements are based on the current expectations of the management of Acceleratio Capital N.V. and KKR and are inherently subject to uncertainties and the change of circumstances. Acceleratio Capital N.V. and KKR do not assume any obligation to update forward-looking statements to reflect actual results, or any change in events, conditions, assumptions or other factors.