UPDATE – Capital Stage fulfills all conditions to Chorus takeover bid
October 18 – Capital Stage AG (ETR:CAP) said today it expects to complete its all-stock takeover of fellow German solar and wind parks operator Chorus Clean Energy AG (FRA:CU1) within the next few days, now that it has fulfilled all closing conditions.
Capital Stage said in a statement that the implementation of the takeover-related ordinary capital increase against contribution in kind was registered with the commercial register. This was the final closing condition of the voluntary public takeover bid to Chorus’ stockholders, it noted.
The offer reached a final acceptance ratio of 94.42% earlier this month. Under its terms, Capital Stage will exchange five own shares for three Chorus shares, which translates into around EUR 11.50 (USD 12.63) 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.
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