KAS Bank sees over 97 percent of shares tendered to CACEIS
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KAS Bank sees over 97 percent of shares tendered to CACEIS 08 October 2019Paris Reporter: Jenna Lomax
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CACEIS and KAS Bank revealed that under its recommended offer, a total of 97.07 percent of KAS Bank shares were tendered to CACEIS, with 1.77 percent of those during the post-acceptance period.
The settlement and delivery of the securities tendered during the reopening period will
take place on 11 October.
CACEIS will initiate proceedings in order to obtain 100 percent of the securities of KAS BANK.
KAS BANK and CACEIS have requested the delisting of KAS BANK shares on Euronext Amsterdam.
In consultation with Euronext Amsterdam, the last trading day of the securities will be on 4 November.
In July, CACEIS made a recommended public offer in cash for all the securities in KAS BANK, which is presented at a price of €12.75 per share, valuing KAS BANK at €187 million.
The offer period commenced on 29 July at 9:00 hours CET and ended on 23 September 2019 at 17:40 hours CET. At the time of the offer, the management board and supervisory board of KAS BANK unanimously recommend the offer.
The post-acceptance period ended on 7 October at 17:40 CET.
Jean-François Abadie, managing director of CACEIS, said: “We are delighted with this final result which confirms the success of our recommended offer. This transaction marks a new milestone for CACEIS and KAS BANK. All our clients will benefit from a comprehensive service offering from a strong European leader in asset servicing.”
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