M&A Activity • Jul 6, 2012
M&A Activity
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News Details
Takeover Bids | 6 July 2012 07:30
Takeover Offer;
Target company: WMF Württembergische Metallwarenfabrik AG; Bidder: Blitz 12-463 GmbH
Dissemination of an announcement according to the German Securities
Acquisition and Takeover Act (WpÜG), transmitted by DGAP – a company of
EquityStory AG.
The bidder is solely responsible for the content of this announcement.
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Announcement of the Decision to Make a Voluntary Public Takeover Offer
(freiwilliges öffentliches Übernahmeangebot) pursuant to Section 10 para. 1
in conjunction with Sections 29, 34 of the German Securities Acquisition
and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz – ‘WpÜG’)
Bidder:
Blitz 12-463 GmbH (to be renamed Finedining Capital GmbH)
c/o Hengeler Mueller
Leopoldstraße 8-10
80802 München
Germany
registered in the commercial register of the local court (Amtsgericht) of
Munich under HRB 199653
Target:
WMF Württembergische Metallwarenfabrik Aktiengesellschaft
Eberhardstrasse 17-47
73309 Geislingen an der Steige
Germany
registered in the commercial register of the local court (Amtsgericht) of
Ulm under HRB 540215
ISIN: DE0007803009 and DE0007803033 (WKN 780300 and 780303)
Today, Blitz 12-463 GmbH (to be renamed in Finedining Capital GmbH) (the
‘Bidder’), a holding company controlled by funds advised by Kohlberg Kravis
Roberts & Co. L.P., decided to make a voluntary public takeover offer to
the shareholders of WMF Württembergische Metallwarenfabrik
Aktiengesellschaft to acquire their ordinary bearer shares in WMF
Württembergische Metallwarenfabrik Aktiengesellschaft, each representing a
pro-rata amount of the share capital of EUR 2.56 (the ‘WMF Ordinary
Shares’), and their preference bearer shares in WMF Württembergische
Metallwarenfabrik Aktiengesellschaft, each representing a pro-rata amount
of the share capital of EUR 2.56 (the ‘WMF Preference Shares’), against
payment of a cash consideration of EUR 47.00 per WMF Ordinary Share and
against a cash consideration equal to the volume-weighted average domestic
stock exchange price of the WMF Preference Shares during the last three
months prior to the date hereof, but in any case not less than EUR 31.70
per WMF Preference Share (the ‘Takeover Offer’).
The offer document and further information relating to the Takeover Offer
will be published on the internet at www.finediningcapital-offer.com.
Further Information:
The Takeover Offer will be made subject to the clearance by the cartel
authorities. Apart from this, the Takeover Offer will be made on and
subject to the terms and conditions to be set out in the offer document.
Today, the Bidder entered into a share purchase agreement with Crystal
Capital GmbH on the acquisition of a total of 4,887,555 WMF Ordinary Shares
(corresponds to about 52.37 % of the WMF Ordinary Shares) against payment
of a cash consideration of EUR 47.00 per WMF Ordinary Share. In addition,
Crystal Capital GmbH committed itself to tender its 256,489 WMF Preference
Shares (corresponds to about 5.50 % of the WMF Preference Shares) into the
Takeover Offer. The conclusion of this share purchase agreement is subject
to certain conditions precedent, inter alia, the clearance by the competent
cartel authorities.
Important Notice:
This announcement is neither an offer to purchase nor a solicitation of an
offer to sell shares of WMF Württembergische Metallwarenfabrik
Aktiengesellschaft. The definite terms and conditions of the Takeover
Offer, as well as further provisions concerning the Takeover Offer, will be
published in the offer document only after the German Federal Financial
Supervisory Authority has granted permission to publish the offer document.
Investors and holders of shares in WMF Württembergische Metallwarenfabrik
Aktiengesellschaft are strongly advised to read the offer document and all
other relevant documents regarding the Takeover Offer when they become
available, since they will contain important information.
Munich, 6 July 2012
Blitz 12-463 GmbH (to be renamed Finedining Capital GmbH)
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Listed: Regulated Market (Regulierter Markt) in Frankfurt (General
Standard) and Stuttgart, unofficial dealings (Freiverkehr) in Berlin,
Düsseldorf, Hamburg, Munich
End of WpÜG announcement
06.07.2012DGAP’s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Listed: Regulierter Markt in Frankfurt (General Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
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