Capital Stage’s bid for Chorus surpasses 84% acceptance
Sep 21, 2016 18:47 CEST
September 21 – More than 84% of the shareholders of Chorus Clean Energy AG (FRA:CU1) have voted in favour of the planned takeover of the German solar and wind parks operator by peer Capital Stage AG (ETR:CAP).
The suitor launched a voluntary public takeover bid on July 28 and as of September 16, when the regular acceptance period ended, the acceptance ratio had reached 84.23%, Chorus Clean Energy said today.
The minimum ratio was pre-agreed at 50% plus one share. The additional acceptance period will end on October 5, 2016.
Capital Stage proposes to exchange five own shares for three Chorus shares, which translates into around EUR 11.50 (USD 12.8) per Chorus share.
The combined company will have over 1 GW of capacity of 60/40 solar and wind. The assets are located in Germany, Italy, France, the UK, Austria, Sweden and Finland.
(EUR 1.0 = USD 1.116)
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