LONDON (dpa-AFX) - Vonovia said it holds 94% of the shares in Hembla after its mandatory offer successful.
Vonovia, through its indirectly wholly owned subsidiary HomeStar InvestCo, on 7 November 2019 announced a mandatory cash offer to the shareholders in Hembla to acquire all outstanding B-shares in Hembla not already held by HomeStar at a price of SEK 215 per share. The initial acceptance period for the Offer expired on 9 December 2019.
After the end of the initial acceptance period and upon settlement under the Offer, HomeStar will hold in total 6.14 million A-shares and 81.28 million B-shares in Hembla, corresponding to about 95.3 percent of the total voting rights and about 94.1 percent of the share capital in Hembla.
Vonovia noted that the settlement will commence on 16 December 2019, for those shareholders in Hembla who accepted the Offer during the initial acceptance period.
Vonovia said it has decided to extend the acceptance period for the Offer up to and including 8 January 2020. Vonovia will not extend the acceptance period any further than that. For those shareholders who accept the Offer during the extended acceptance period, settlement is expected to commence on 15 January 2020. HomeStar may also acquire additional shares in Hembla outside the Offer.
Copyright RTT News/dpa-AFX