Munich (ots) - Finedining Capital AG ("Finedining Capital"), a holding company controlled by funds advised by KKR (together with affiliates, "KKR"), today informed WMF AG ("WMF") about the intention to set the cash compensation to be paid in the course of the squeeze-out at EUR 58,37 for both ordinary and preference shares. A company valuation of WMF by a neutral expert has served as the basis for determining this cash compensation.
The execution and notarisation of the merger contract between WMF and Finedining Capital are scheduled for 26 November 2014. The required change of Finedining Capital GmbH's legal form into a stock corporation ("Aktiengesellschaft") has been completed in the interim. On that same day, the cash compensation shall be finally determined. The court-appointed independent auditor will subsequently present its report about the adequacy of the cash compensation. WMF's extraordinary general meeting, which will be called to approve the transfer of the shares held by minority shareholders, will presumably take place on 20 January 2015 in Stuttgart, Germany.
Finedining Capital published a voluntary public tender offer for all outstanding WMF preference shares on 14 July 2014. It was successfully completed on 3 September 2014. With a shareholding of about 92 percent of WMF's stated capital (excluding the treasury shares held by WMF), Finedining Capital now holds a sufficient percentage of shares to implement a merger-related squeeze-out and the subsequent delisting of WMF from the stock exchange.
Additional information on the completed voluntary public tender offer is available on www.finedining-offer.com. Information on the merger-related squeeze-out will also be available on this website soon.
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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 AG digital press kits: http://www.presseportal.de/pm/113795 press kits via RSS: http://www.presseportal.de/rss/pm_113795.rss2
Contact: KKR: Dominik Veit Telefon: +49(0)69 92187487 E-Mail: dveit@heringschuppener.com
The execution and notarisation of the merger contract between WMF and Finedining Capital are scheduled for 26 November 2014. The required change of Finedining Capital GmbH's legal form into a stock corporation ("Aktiengesellschaft") has been completed in the interim. On that same day, the cash compensation shall be finally determined. The court-appointed independent auditor will subsequently present its report about the adequacy of the cash compensation. WMF's extraordinary general meeting, which will be called to approve the transfer of the shares held by minority shareholders, will presumably take place on 20 January 2015 in Stuttgart, Germany.
Finedining Capital published a voluntary public tender offer for all outstanding WMF preference shares on 14 July 2014. It was successfully completed on 3 September 2014. With a shareholding of about 92 percent of WMF's stated capital (excluding the treasury shares held by WMF), Finedining Capital now holds a sufficient percentage of shares to implement a merger-related squeeze-out and the subsequent delisting of WMF from the stock exchange.
Additional information on the completed voluntary public tender offer is available on www.finedining-offer.com. Information on the merger-related squeeze-out will also be available on this website soon.
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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 AG digital press kits: http://www.presseportal.de/pm/113795 press kits via RSS: http://www.presseportal.de/rss/pm_113795.rss2
Contact: KKR: Dominik Veit Telefon: +49(0)69 92187487 E-Mail: dveit@heringschuppener.com
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