The combination of Capital Stage AG and CHORUS Clean Energy AG has been settled. More than 94 percent of CHORUS shareholders have accepted the voluntary public takeover offer by Capital Stage within the official acceptance period.
As we reported in early June, Capital Stag 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.
More than 26 million CHORUS shares have been tendered for exchange in Capital Stage shares. Based on the exchange ratio of five Capital Stage shares for each three CHORUS shares, more than 43 million new Capital Stage shares will be raised from a capital increase. The completion of the transaction (closing) is expected upon entry of the capital increase in mid October 2016.
Prof. Dr. Klaus-Dieter Maubach, CEO of Capital Stage:
“We very much appreciate the high acceptance ratio. It impressively demonstrates, that the vast majority of CHORUS shareholders support the combination and share our belief that we jointly have a higher value creation potential in future” We now want to finalise the transaction as soon as possible and use the newly gained force from the combination to expand our portfolio and asset management activities”.