Nidda Healthcare GmbH
Nidda Healthcare Holding AG: Minimum acceptance threshold for STADA Takeover Offer narrowly missed
DGAP-News: Nidda Healthcare Holding AG / Key word(s): Offer Minimum acceptance threshold for STADA Takeover Offer narrowly missed
Frankfurt / Munich, 26 June 2017 – The voluntary public Takeover Offer of Nidda Healthcare Holding AG, a holding company controlled by funds advised by Bain Capital Private Equity, LP (“Bain Capital”) and by Cinven Partners LLP (“Cinven”), for all outstanding shares of STADA Arzneimittel AG (“STADA” or the “Company”) has lapsed due to the non-fulfilment of the minimum acceptance threshold offer condition. During the acceptance period, which expired on 22 June 2017, the Takeover Offer was accepted for 40,844,263 STADA shares. This represents approximately 65.52 percent of the shares and the voting rights of STADA. The minimum acceptance threshold of 67.5 percent of all STADA shares was therefore narrowly missed despite a highly attractive offer price of EUR 66 per share, the recommendations by the STADA Management and Supervisory Boards and a concerted shareholder outreach by Bain Capital and Cinven as well as the Company. Following the lapse of the offer, shares which were tendered by accepting the Takeover Offer will be returned to the shareholders. Bain Capital and Cinven worked very closely and constructively with the Management and Supervisory Boards of STADA who recommended and supported the Takeover Offer.
For Bain Capital Ed Gascoigne-Pees Lutz Golsch
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 strategic 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, have been published in the offer document following approval by the German Federal Financial Supervisory Authority. 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, since they contain important information. The Takeover Offer has been 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 is exclusively governed by the laws of the Federal Republic of Germany and is to be interpreted in accordance with such laws.
26.06.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |