Geneba, Frasers Property launches One-Time Offer for remaining Free-Float
. Frasers Property publishes Information Memorandum
Amsterdam, 4 August 2017 – With reference to the press release dated 5 July 2017, Geneba Properties N.V. (“Geneba” or the “Company”) and Frasers Property Investments (Holland) B.V. (“Frasers Property” or the “Offeror”), an indirect wholly-owned subsidiary of Frasers Centrepoint Limited (“Frasers” or “FCL”), announce today that Frasers Property will make a one-time all-cash offer (the “One-Time Offer”) for all remaining issued and outstanding depositary receipts (“DRs”) of Geneba at the price of EUR 3.74 per DR. This is the same price per DR at which Frasers Property recently acquired the 86.56% stake in Geneba from Catalyst RE Coöperatief U.A. (“Catalyst”).
Frasers Property also published an information memorandum (the “Information Memorandum”) today, which outlines further details on the One-Time Offer and can be found on Geneba’s website (www.geneba.com).
More information can also be found in the Q&A section related to the One-Time Offer, which has been made available in Dutch, on Geneba’s website (www.geneba.com).
Dr. Wulf Meinel, CEO of Geneba, said:
“Having welcomed Frasers Property as our new majority shareholder, we are pleased that Frasers Property has formally launched an offer that will deliver value to the holders of free-float DRs. We have been closely involved during the entire process, from exploring strategic alternatives that was announced in December 2016, to deciding on Frasers Property after a competitive process. We believe that Frasers Property’s offer represents the best value for all stakeholders including the free-float DR holders. I would like to extend my gratitude to Geneba shareholders for their faith in us these past years.”
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