Nidda Healthcare GmbH
Bain Capital Private Equity and Cinven Partners announce new voluntary public takeover offer for STADA
DGAP-News: Nidda Healthcare Holding AG / Key word(s): Offer
The decision to launch a new Takeover Offer is based on the sustained interest of Bain Capital and Cinven in STADA and their strong belief in the potential of the Company as well as many shareholders who have expressed a strong desire towards Bain Capital and Cinven for a renewed tender offer. Both Bain Capital and Cinven remain committed to support the ongoing transformation and future growth of STADA. The Management Board and Supervisory Board of STADA also support the new Takeover Offer and believe that the transaction remains in the best interest of the Company, its shareholders, employees and other stakeholders. Bain Capital and Cinven will offer the shareholders of STADA an attractive offer price of EUR 66.25 per share. It represents a premium of 49.5 percent over the closing price of 9 December 2016, the last trading day prior to the first rumours about a potential takeover of STADA. Bain Capital and Cinven have already received several irrevocable commitments from STADA shareholders to accept the Takeover Offer for approximately 19.6 percent of the share capital of the Company. The Takeover Offer is, among other conditions, subject to a minimum acceptance threshold of 63 percent. The acceptance period will be four weeks. The original investment agreement has been adapted accordingly to reflect the new Offer. The financing of the offer remains in place. JP Morgan, Macquarie Capital and Rothschild remain lead financial advisors, and Kirkland & Ellis International LLP remains legal advisor to Bain Capital and Cinven. The definite terms and conditions of the Takeover Offer, as well as further provisions concerning the Takeover Offer, will be included in the offer document, which is to be approved by BaFin. Following approval by BaFin, the offer document will be published and the acceptance period will commence. The offer document and all other information about the Takeover Offer will be published on the following website: www.niddahealthcare-angebot.de
Media contacts: For Bain Capital
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital’s global team of approximately 220 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has offices in Boston, Chicago, New York, Palo Alto, San Francisco, Dublin, London, Luxembourg, Munich, Melbourne, Mumbai, Hong Kong, Shanghai, Sydney and Tokyo and has made investments in more than 300 companies to date. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, managing approximately USD 75 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus. For more information, visit www.baincapitalprivateequity.com
About Cinven: Cinven is a leading international private equity firm focused on building world-class European and global companies. Its funds invest in six key sectors: Healthcare, Business Services, Consumer, Financial Services, Industrials, and Technology, Media and Telecommunications (TMT). Cinven has offices in key locations including: Frankfurt, London, Paris, Milan, Madrid, Hong Kong, and New York. Since 1988, Cinven funds have invested in 120 companies worth around EUR90 billion. Today Cinven has more than EUR15 billion in assets under management. Cinven takes a responsible approach towards its portfolio companies, their employees, suppliers, local communities, the environment and society. For more information, please visit www.cinven.com
This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares of the Company. The definite terms and conditions of the Takeover Offer, as well as further provisions concerning the Takeover Offer, will be published in the offer document only after BaFin has granted permission to publish the offer document. Investors and holders of shares in the Company are strongly advised to read the offer document and all other relevant documents regarding the Takeover Offer when they become available, since they will contain important information. The Takeover Offer will be issued exclusively under the laws of the Federal Republic of Germany and certain applicable provisions of U.S. securities law. Any contract that is concluded on the basis of the Takeover Offer will be exclusively governed by the laws of the Federal Republic of Germany and is to be interpreted in accordance with such laws.
10.07.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |