DGAP-News: AIG Century GmbH&Co. KGaA (vormals AHL 1. Morpheus GmbH&Co. KGaA): AIG Century GmbH&Co. KGaA announces a tender offer for AIRE GmbH&Co. KGaA
(firmenpresse) - DGAP-News: AIG Century GmbH&Co. KGaA (vormals AHL 1. Morpheus GmbH&Co. KGaA) / Key word(s): Offer
AIG Century GmbH&Co. KGaA (vormals AHL 1. Morpheus GmbH&Co. KGaA):
AIG Century GmbH&Co. KGaA announces a tender offer for AIRE GmbH&Co. KGaA
30.04.2012 / 07:47
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AIG Century GmbH&Co. KGaA announces a tender offer for AIRE GmbH&Co.
KGaA
Frankfurt am Main, April 30, 2012 - AIG Century GmbH&Co. KGaA ('AIG
Century') (currently AHL 1. Morpheus GmbH&Co. KGaA), a company indirectly
wholly owned by American International Group, Inc. ('AIG'), today announced
its decision to make a voluntary public takeover offer (the 'Offer') for
all outstanding shares of AIRE GmbH&Co. KGaA ('AIRE'), a real estate
investment company.
AIG Century intends to offer the AIRE shareholders as consideration for
their shares a cash payment of EUR 17 per share. This represents a premium
of approximately 74.56% above the estimated volume weighted average stock
exchange (Xetra) price of AIRE shares (EUR 9.72) during the last 6 months
to close of trading on April 27, 2012 and a premium of approximately 26.39%
compared to the (Xetra) closing price (EUR 13.45) on April 27, 2012.
AIG currently holds 319,211 shares in AIRE (approximately 7.56% of the
share capital of AIRE). Including these 319,211 shares and shares subject
to share purchase agreements entered into by AIG, AIG Century has secured a
total of 1,343,137 shares in AIRE (approximately 31.8% of the share capital
of AIRE).
The Offer will be conditional on the acquisition by AIG Century of at least
75% of the outstanding AIRE shares (including all AIRE shares held by AIG
Century) and other customary conditions.
The acceptance period will commence after approval of the offer document by
the German Federal Financial Supervisory Authority (BaFin) and the
publication of the offer document. AIG Century expects the offer to be
completed within the third quarter of 2012.
Debevoise&Plimpton LLP is acting as legal counsel of AIG Century.
Further information relating to the Offer will be published on the internet
at http://www.aigglobalrealestate.com/aigcentury.
* * *
For further information, please contact:
Hans G. Nagl
FTI Consulting
+49 (0) 69 92037-116
hans.nagl(at)fticonsulting.com
Important Information:
This announcement is neither an offer to purchase or sell nor a
solicitation of an offer to purchase or sell shares in AIRE GmbH&Co. KGaA
or any other securities. The final terms and conditions of the offer will
be communicated in the offer document still to be published. AIG Century
reserves the right to change the terms and conditions of the offer to the
extent legally permissible. Shareholders of AIRE GmbH&Co. KGaA are
strongly advised to read the offer document and all other documents in
connection with the takeover offer as soon as they have been published by
AIG Century since these will contain important information.
About AIRE
AIRE (ISIN: DE 000 634 4211/WKN: 634421) is a publicly listed real-estate
company with investments in North America, Europe and Asia. The original
business strategy of AIRE aimed at earning returns for its shareholders byinvesting in a dynamic, actively managed and globally diversified real
estate portfolio. Since 2008, AIRE has not made any new investments and has
continued to fund commitments to existing investments and to existing funds
in which it is an investor.
About AIG
AIG is a leading international insurance organization serving customers in
more than 130 countries. AIG companies serve commercial, institutional, and
individual customers through one of the most extensive worldwide
property-casualty networks of any insurer. In addition, AIG companies are
leading providers of life insurance and retirement services in the United
States of America.
End of Corporate News
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30.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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