Judicial review proceedings regarding the squeeze-out at AXA Konzern AG: judicial expert concludes to a significantly higher value of ordinary and preference shares

In the judicial review proceedings regarding the squeeze-out in AXA Konzern AG, the extensive expert's report by NPP Niethammer, Posewang & Partner GmbH, which was commissioned by the court, has been made available by the District Court of Cologne (Landgericht Köln). NPP concludes to a significantly higher value of the shares, both ordinary and preference ones, than the offered amount by the main shareholder, i.e. EUR 134.54 per ordinary and preference share (after a court settlement raised to EUR 144.69 per ordinary share and EUR 146.24 per preference share). According to NPP's calculations, the appropriate compensation is considered to be EUR 237.74 and EUR 238.77 respectively. If the court follows this expert opinion, the initially proposed amount would be increased by 76.71% per ordinary share and by 77.47% per preference share.