DGAP-News: AIG Century GmbH&Co. KGaA: AIG Century increases offer price for AIRE GmbH&Co. KGaA to EUR 19.75
(firmenpresse) - DGAP-News: AIG Century GmbH&Co. KGaA / Key word(s): Offer
AIG Century GmbH&Co. KGaA: AIG Century increases offer price for
AIRE GmbH&Co. KGaA to EUR 19.75
23.07.2012 / 12:05
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AIG Century increases offer price for AIRE GmbH&Co. KGaA to EUR 19.75
- AIRE shares can still be tendered at the increased offer price during
the additional acceptance period ending July 30, 2012, 24:00 hrs CEST
- Shareholders who have tendered their AIRE shares during the acceptance
period will receive additional payment
- AIG Century has secured a total of 93.05 per cent of the share capital
of AIRE
Frankfurt am Main, July, 23 2012 - AIG Century GmbH&Co. KGaA ('AIG
Century'), a company indirectly wholly owned by American International
Group, Inc. ('AIG'), today announced that the offer price for its voluntary
public tender offer for all shares of AIRE GmbH&Co. KGaA ('AIRE') has
been increased to EUR 19.75. Shareholders who did not accept the offer yet
may still accept the offer at the increased offer price until July 30,
2012, 24:00 hrs CEST.
This increased offer price represents a premium of approximately 102.8 per
cent above the estimated volume weighted average stock exchange (Xetra)
price of AIRE shares (EUR 9.74) during the last six months of trading
(closing on April 27, 2012), and a premium of approximately 46.8 per cent
compared to the (Xetra) closing price (EUR 13.45) on April 27, 2012.
The offer price has been increased in accordance with the provisions of the
German Securities Acquisition and Takeover Act (Wertpapiererwerbs- undÜbernahmegesetz) due to an off-market acquisition at a purchase price of
EUR 19.75 per share and applies to all AIRE shares tendered to AIG Century
during the offer process. Consequently, an additional payment of EUR 1.50
will be made to shareholders who have tendered their AIRE shares during the
acceptance period. This will be done through their respective custodian
banks and shareholders do not need to take any action to receive this
additional payment. Shareholders who tender their AIRE shares during the
additional acceptance period ending on July 30, 2012 will receive the
increased cash consideration on settlement.
Further, on July 20, 2012, AIG Century entered into an irrevocable
undertaking according to which the offer will be accepted for further
391,188 AIRE shares (representing 9.26 per cent of the share capital of
AIRE). Including these 391,188 AIRE shares, AIG has secured a total of
3,929,991 AIRE shares in AIRE (representing 93.05 per cent of the share
capital of AIRE).
Further information on the details of the tendering process may be found in
the offer document. Shareholders should contact their custodian bank who
can assist with the tendering of the AIRE shares.
The offer document as well as further information relating to the offer is
published on the Internet at http://www.aigglobalrealestate.com/aigcentury
.
* * *
For further information, please contact:
Ivo Lingnau
FTI Consulting
+49 (0) 69 92037-133
ivo.lingnau(at)fticonsulting.com
Hans-Werner Wenzke
FTI Consulting
+49 (0) 69 92037-150
hans-werner.wenzke(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 terms and conditions of the offer are set
forth in the offer document. 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 tender offer
published by AIG Century, because these will contain important information.
About AIRE
AIRE (ISIN DE 000 634 4211/WKN 634421) is a publicly listed real estate
investment company with investments in North America, Latin America, Europe
and Asia. The original business strategy of AIRE aimed at earning returns
for its shareholders by investing 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 U.S.A.
End of Corporate News
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23.07.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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178790 23.07.2012
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Datum: 23.07.2012 - 12:05 Uhr
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