Kuoni Reisen Holding AG
Kuoni Travel Holding Ltd.: Update on recommended cash offer for Et-china
Kuoni Reisen Holding AG / Key word(s): Offer 20.12.2010 17:30 Release of an ad hoc announcement pursuant to Art. 72 KR --------------------------------------------------------------------------- In connection with Kuoni Travel Holding Ltd.'s recommended cash offer for Et-china.com International Holdings Ltd., Kuoni has informed Et-china that the takeover will not be completed. Certain conditions to the corresponding 'Scheme of Arrangement' will not have been satisfied, and will not be waived by such time as to enable the 'Scheme' to become effective by the Long Stop Date of 31 December 2010. Due to certain legal and regulatory issues, including relating to Et-china's subsidiary GZL (Guangzhou Travel Service) the 'Scheme of Arrangement' will therefore lapse on 31 December 2010. Kuoni is not willing to agree to a further extension of the Long Stop Date for the 'Scheme'. In September 2010 the Long Stop Date was already extended to the end of 2010. Kuoni remains the largest shareholder in Et-china.com International Holdings Ltd. with an equity stake of approx. 29%, and it continues to participate in the growth of the Chinese market. Kuoni's acquisition strategy in Asia continues unchanged. LAURENCE BIENZ Head of Investor Relations Kuoni Travel Holding Ltd. Neue Hard 7 CH-8010 Zurich T +41 (0)44 277 45 29 laurence.bienz@kuoni.com 20.12.2010 News transmitted by EquityStory AG. The issuer is responsible for the contents of the release. EquityStory publishes regulatory releases, media releases on the capital market and press releases. The EquityStory Group distributes authentic and real-time financial news for over 1'300 listed companies. The Swiss news archive can be found at www.equitystory.ch/news --------------------------------------------------------------------------- Language: English Company: Kuoni Reisen Holding AG Neue Hard 7 8010 Zürich Schweiz Phone: +41 44 277 4529 Fax: +41 44 277 4031 E-mail: laurence.bienz@kuoni.com Internet: www.kuoni-group.com ISIN: CH0003504856 Swiss Security Number: 894861 Listed: Freiverkehr in Berlin, Stuttgart; Open Market in Frankfurt; SIX End of Announcement EquityStory News-Service ---------------------------------------------------------------------------
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