Capital Stage has decided to offer the shareholders of CHORUS Clean Energy the acquisition of all their share capital by way of a voluntary public takeover offer in the form of an exchange offer.
Capital Stage intends to offer the shareholders of CHORUS five new no-par value bearer shares of Capital Stage, each representing a pro rata amount of the registered share capital of €1.00 and a right to dividends as of 1 January 2016 from the capital increase in kind, in exchange for every three CHORUS shares tendered to Capital Stage.
The new Capital Stage shares under the Takeover Offer shall be created by way of a capital Increase in kind still to be resolved and excluding Capital Stage shareholders subscription rights.
Additionally, Capital Stage and CHORUS have signed a Business Combination Agreement. At the same time, Capital Stage entered into tender agreements with certain shareholders of CHORUS, in which these shareholders undertake to accept the takeover offer of Capital Stage for their CHORUS shares.
CHORUS Clean Energy AG is not only an independent operator of solar and wind parks but a full service provider for investments in renewable energies. The comapany currently manages a portfolio of 75 plants located in five European countries with a total installed capacity of more than 325 megawatts.
The joint goal of the transaction is to create a leading independent operator of wind and solar parks in Germany, including asset management operations.