UNA 422. Equity Management GmbH (künftig: Kublai GmbH)
UNA 422. Equity Management GmbH (künftig: Kublai GmbH)
Nachricht vom 21.12.2020 | 07:29
Takeover Offer / Target company: Tele Columbus AG; Bidder: UNA 422. Equity Management GmbH (künftig: Kublai GmbH)
UNA 422. Equity Management GmbH (künftig: Kublai GmbH) / Takeover Offer
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
- Convenience Translation -
PUBLICATION PURSUANT TO SEC. 10 PARA. 1 AND PARA. 3 IN CONJUNCTION WITH SEC. 29 PARA. 1, 34 OF THE GERMAN SECURITIES ACQUISITION AND TAKEOVER ACT (WERTPAPIERERWERBS- UND ÜBERNAHMEGESETZ - WPÜG)
UNA 422. Equity Management GmbH (in the future: Kublai GmbH)
Tele Columbus AG
The offer document will be published on the Internet once such publication has been approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) at:
On December 21, 2020, UNA 422. Equity Management GmbH (in the future: Kublai GmbH) (the "Bidder"), with its registered office in Frankfurt am Main, Germany, an affiliate of funds managed and advised by Morgan Stanley Infrastructure Inc., Wilmington, Delaware, USA, which is an indirect subsidiary of Morgan Stanley, Wilmington, Delaware, USA, decided to submit a voluntary public takeover offer in the form of a cash offer to the shareholders of Tele Columbus AG (the "Company"), with its registered office in Berlin, Germany, to acquire all registered no-par value shares in the Company, each with a notional interest in the share capital of EUR 1.00 (ISIN DE000TCAG172).
For each share of the Company tendered to the Bidder, the Bidder will offer EUR 3.25 in cash (the "Offer Price") as consideration, subject to the determination of the minimum price and the final determination in the offer document.
The public takeover offer will be made in accordance with the terms and conditions set forth in the offer document. This includes reaching a minimum acceptance threshold of 50% of the share capital of the Company plus one share as well as certain consents and waivers by the Company's lenders with respect to potential existing change of control rights. In addition, the public takeover offer will be made subject to customary closing conditions, including, antitrust and foreign investment clearances. To the extent legally permissible, the Bidder reserves the right to deviate in the final terms of the offer document from the information described herein.
Today, the Bidder entered into an investment agreement with the Company, which governs the key terms of the takeover offer and the mutual intentions and objectives with regard to future collaboration. In the investment agreement, the Bidder has undertaken, subject to closing of the takeover offer, to fully subscribe and backstop a rights offering capital increase of the Company for an amount of EUR 475 million at a subscription price per share, which is yet to be determined, not exceeding the Offer Price and in such way that the full amount of the capital increase will be reached in any event. Furthermore, subject to closing of the takeover offer, the Bidder has committed to provide additional equity capital of up to EUR 75 million in the future for the implementation of the Fiber Champion strategy of the Company. On the basis of the investment agreement, the Company's management board and supervisory board support the planned offer.
Furthermore, today, the Bidder entered into a transaction agreement and, subject to the condition precedent of the settlement of the takeover offer, a shareholders' agreement with United Internet Investments Holding AG & Co. KG ("United Internet Investments Holding"), a wholly-owned subsidiary of United Internet AG and the largest single shareholder of the Company. Under the transaction agreement, United Internet Investments Holding transfers, subject to the condition precedent of the settlement of the takeover offer, its 38,140,000 shares of the Company (corresponding to approx. 29.90% of the share capital of the Company) to the Bidder and, in turn, will become a shareholder of the Bidder. The agreements form part of a strategic partnership with respect to the Company intended for a successful takeover offer. The shares held by United Internet Investments Holding will be taken into account for purposes of reaching the minimum acceptance threshold.
In addition, today, the Bidder has entered into a definitive agreement with Rocket Internet SE, who directly holds 17,038,024 shares of the Company (corresponding to approx. 13.36% of the Company's share capital). Pursuant to this agreement, Rocket Internet SE has irrevocably undertaken to accept the takeover offer for all of the shares of the Company held by it.
The offer document will be available on the Internet at http://www.faser-angebot.de after the approval of the publication has been granted by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht). The period for the acceptance of the takeover offer will be published on the same website.
This announcement is for information purposes only and neither constitutes an invitation to sell, nor an offer to purchase, securities of the Company. The final terms and further provisions regarding the public takeover offer will be disclosed in the offer document after its publication has been approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht). To the extent legally permissible, the Bidder reserves the right to deviate in the final terms of the public takeover offer from the basic information described herein. Investors and holders of securities of the Company are strongly recommended to read the offer document and all announcements in connection with the public takeover offer as soon as they are published, since they contain or will contain important information.
The offer will be made exclusively under the laws of the Federal Republic of Germany, especially under the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz - WpÜG), and certain provisions of the securities laws of the United States of America applicable to cross-border tender offers. The offer will not be executed according to the provisions of jurisdictions other than those of the Federal Republic of Germany or the United States of America (to the extent applicable). Thus, no other announcements, registrations, admissions or approvals of the offer outside of the Federal Republic of Germany have been filed, arranged for or granted. Investors in, and holders of, securities in the Company cannot rely on having recourse to provisions for the protection of investors in any jurisdiction other than the provisions of the Federal Republic of Germany or the United States of America (to the extent applicable). Subject to the exceptions described in the offer document as well as any exemptions that may be granted by the relevant regulators, a public takeover offer will not be made, neither directly nor indirectly, in jurisdictions where to do so would constitute a violation of the laws of such jurisdiction.
The Bidder reserves the right, to the extent legally permitted, to directly or indirectly acquire further shares outside the offer on or off the stock exchange. If such further acquisitions take place, information about such acquisitions, stating the number of shares acquired or to be acquired and the consideration paid or agreed on, will be published without undue delay, if and to the extent required by the laws of the Federal Republic of Germany or any other relevant jurisdiction.
To the extent any announcements in this document contain forward-looking statements, such statements do not represent facts and are characterized by the words "will", "expect", "believe", "estimate", "intend", "aim", "assume" or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of the Bidder and the persons acting together with the Bidder. Such forward-looking statements are based on current plans, estimates and forecasts, which the Bidder and the persons acting together with the Bidder have made to the best of their knowledge, but which they do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by the Bidder or the persons acting together with the Bidder. These expectations and forward-looking statements can turn out to be incorrect and the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements. The Bidder and the persons acting together with the Bidder do not assume an obligation to update the forward-looking statements with respect to the actual development or incidents, basic conditions, assumptions or other factors.
Frankfurt am Main, December 21, 2020
|Listed:||Zielgesellschaft: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|
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