ISARIA Wohnbau AG
ISARIA Wohnbau AG: Voluntary public takeover offer by Lone Star to the shareholders of ISARIA Wohnbau AG
Press release Voluntary public takeover offer by Lone Star to the shareholders of ISARIA Wohnbau AG 28 July 2016 – Today, LSREF4 ARIA Beteiligungs GmbH & Co. KG (“LSREF 4”), an affiliate of Lone Star Real Estate Funds IV (US) L.P. and Lone Star Real Estate Fund IV (Bermuda), L.P. (Lone Star Funds and their affiliates together “Lone Star”), published the offer document in relation to its voluntary public offer for the acquisition of all outstanding shares of ISARIA Wohnbau AG (“ISARIA”). In accordance with § 10 of the German Securities Acquisition and Takeover Act LSREF4 had already publicly announced its intention to take over ISARIA on 17 June 2016. On this 28 July 2016, the acceptance period starts in which shareholders of ISARIA have the right to tender their ISARIA shares against a cash compensation of EUR4.50 per share. Accepting the offer requires submitting a written statement to the respective custodian bank. The four-week acceptance period ends on 25 August 2016 at 24:00 CET. In the offer document, LSREF4 communicates that it has already acquired 700,000 ISARIA shares. In the context of the announcement of the planned takeover, LSREF4 has concluded bilateral agreements with the majority of ISARIA’s shareholders regarding over-the-counter purchases of ISARIA shares or the tendering of ISARIA shares in the takeover offer. The offer document has been approved by the Federal Financial Supervisory Authority on 27 July 2016. All documents have been made available on the following website of LSREF4: http://www.lsref4aria.de. Lone Star announced its intention to not only maintain the company as a stand-alone platform but also to expand its business operations significantly. At the same time there are no plans to change ISARIA’s business model, the locations of its headquarters or the composition of the management board. On this basis, ISARIA’s management board and supervisory board decided, subject to detailed review and examination of the offer document published today, to support the offer. The company already entered into an agreement with the bidder in June, in which LSREF4 agreed to support a potential capital increase amounting to 50% of the share capital of ISARIA (i.e. 11,882,000 shares) at a price of EUR4.50 per share by purchasing all new shares which will not be subscribed for by ISARIA’s shareholders, subject to the terms and conditions of the agreement. The potential capital increase would provide the company with net proceeds of more than EUR50m which could be deployed for further growth. A decision regarding the execution of the capital increase has not yet been made. In coordination with LSREF4, the company’s management board intends to apply for a delisting of the shares of the company by the end of acceptance period of the takeover offer. Subsequent to such delisting, ISARIA’s shares will not be tradable at stock exchanges anymore. ISARIA’s management board and supervisory board will thoroughly examine and evaluate the offer document and submit, in accordance with their statutory obligations, a reasoned opinion (“begründete Stellungnahme”) which will be published on ISARIA’S website (in the investor relations section) presumably within the next week. About ISARIA Wohnbau AG IR Contact End of Media Release Issuer: ISARIA Wohnbau AG Key word(s): Enterprise
2016-07-28 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | ISARIA Wohnbau AG | |
Leopoldstraße 8 | ||
80802 München | ||
Germany | ||
Phone: | +49 (0)89 38 99 84-0 | |
Fax: | +49 (0)89 38 99 84-760 | |
E-mail: | info@isaria.ag | |
Internet: | www.isaria.ag | |
ISIN: | DE000A1E8H38 | |
WKN: | A1E8H3 | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange | |
End of News | DGAP Media |