Traviata B.V. has informed the Executive Board of Axel Springer SE that it intends to promptly squeeze out the minority shareholders of Axel Springer SE. Traviata B.V. is a holding company owned by funds advised by KKR. The resolution of the Annual General Meeting on a squeeze-out should take place this calendar year, probably in the fourth quarter.
The Supervisory Board and the Executive Board of Axel Springer SE then decided to postpone the ordinary general meeting of shareholders convened for 17 June 2020 to the fourth quarter and to combine this with the resolution on the squeeze-out. This will avoid having to hold two general meetings in 2020. In June 2020, Axel Springer SE will make a down payment of 50 percent of the planned dividend, corresponding to EUR 0.58 per share of Axel Springer SE.
Traviata B.V is in coordination with the other major shareholders of Axel Springer SE for the intended squeeze-out. Together, these major shareholders hold around 99.1 percent of the shares in Axel Springer; 95 percent of the shares are required for a squeeze-out request.
The Supervisory Board and the Executive Board of Axel Springer SE then decided to postpone the ordinary general meeting of shareholders convened for 17 June 2020 to the fourth quarter and to combine this with the resolution on the squeeze-out. This will avoid having to hold two general meetings in 2020. In June 2020, Axel Springer SE will make a down payment of 50 percent of the planned dividend, corresponding to EUR 0.58 per share of Axel Springer SE.
Traviata B.V is in coordination with the other major shareholders of Axel Springer SE for the intended squeeze-out. Together, these major shareholders hold around 99.1 percent of the shares in Axel Springer; 95 percent of the shares are required for a squeeze-out request.
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