Blitz F21-842 AG (zukünftig: ABBA BidCo AG)

Nachricht vom 15.02.2021 | 05:47

Takeover Offer / Target company: AKASOL AG; Bidder: Blitz F21-842 AG (zukünftig: ABBA BidCo AG)

Blitz F21-842 AG (zukünftig: ABBA BidCo AG) / Takeover Offer
Takeover Offer / Target company: AKASOL AG; Bidder: Blitz F21-842 AG (zukünftig: ABBA BidCo AG)

15.02.2021 / 05:47 CET/CEST
Dissemination of an announcement according to the German Securities Acquisition and Takeover Act (WpÜG), transmitted by DGAP - a service of EQS Group AG.
The bidder is solely responsible for the content of this announcement.


NON-BINDING ENGLISH TRANSLATION

 

Publication of the decision to make a voluntary public takeover offer (freiwilliges öffentliches Übernahmeangebot) pursuant to Section 10 para. 1 and 3 in conjunction with Sections 29 para. 1 and 34 of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz, WpÜG)

Bidder:
Blitz F21-842 AG (in future: ABBA BidCo AG)
c/o BorgWarner Europe GmbH
Augustaanlage 54-56
68165 Mannheim
Germany
registered with the commercial register (Handelsregister) of the local court (Amtsgericht) of Frankfurt am Main under HRB 121819

Target:
AKASOL AG
Kleyerstraße 20
64295 Darmstadt
Germany
registered with the commercial register (Handelsregister) of the local court (Amtsgericht) of Darmstadt under HRB 97834
WKN A2JNWZ / ISIN DE000A2JNWZ9

On 15 February 2021, Blitz F21-842 AG (in future: ABBA BidCo AG) (the "Bidder") decided to make a voluntary public takeover offer to all shareholders of AKASOL AG (the "Company") for the acquisition of all non-par value bearer shares in the Company (ISIN DE000A2JNWZ9), each share representing a proportionate amount of EUR 1.00 of the Company's share capital (the "AKASOL-Shares") against payment of a cash consideration in the amount of EUR 120.00 per AKASOL-Share (the "Takeover Offer").

The Bidder also entered into a business combination agreement with the Company, which contains the principal terms and conditions of the Takeover Offer, as well as the mutual intentions and understandings relating thereto.

Prior to this publication, the Bidder has entered into definitive agreements with the Chairman of the Executive Board of the Company, Sven Schulz, and various other shareholders of the Company holding an aggregate of approximately 59.4% of the Company's issued share capital and voting rights. Pursuant to these agreements, such shareholders have irrevocably undertaken to accept the Takeover Offer for all AKASOL-Shares held by them.

The offer document (in German and a non-binding English translation) containing the detailed terms and conditions of the Takeover Offer, as well as further information relating thereto, will be published by the Bidder following approval by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) on the internet at the Bidder's website http://www.abba-offer.com.

The consummation of the Takeover Offer will be subject to certain conditions, which are expected to include reaching a minimum acceptance threshold of 50% plus one share of AKASOL-Shares as well as merger control and other regulatory clearances.

The Bidder is an indirect wholly owned subsidiary of BorgWarner Inc., a corporation organized under the laws of Delaware, United States of America, and whose stock is listed on New York Stock Exchange.

The Takeover Offer will be made on and subject to the terms and conditions set out in the offer document, and the Bidder reserves the right to deviate from the parameters described herein to the extent permissible by law.

Important notice:

 

This announcement is neither an offer to purchase nor a solicitation of an offer to sell AKASOL-Shares. 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 following permission by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, Bafin) to publish the offer document. Investors and holders of AKASOL-Shares are strongly advised to read the offer document and all other documents regarding the Takeover Offer when they become available, as they will contain important information.

The Takeover Offer will be published exclusively under the laws of the Federal Republic of Germany and certain applicable provisions of the securities laws of the United States of America. Any contract concluded based on 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.

To the extent permissible under applicable law or regulation, and in accordance with German market practice, the Bidder, its affiliates or its brokers may purchase, or conclude agreements to purchase, all AKASOL-Shares, directly or indirectly, outside of the scope of the Takeover Offer, before, during or after the period in which the offer remains open for acceptance. This applies to other securities which are directly convertible into, exchangeable for, or exercisable for AKASOL-Shares. These purchases may be completed via the stock exchange at market prices or outside the stock exchange on negotiated terms and conditions. Any information on such purchases will be disclosed as required by law or regulation in Germany or any other relevant jurisdiction.

Frankfurt am Main, 15 February 2021

Blitz F21-842 AG (in future: ABBA BidCo AG)

 


15.02.2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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