| Machinery |
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Asahi Glass (AGC) now owns 99% of the share capital of Glaverbel
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Asahi Glass Co., Ltd (J.AHG) announced today that it has increased its direct and indirect shareholding in Glaverbel (GLAB.BRU) to a level of 99.11% of the total number of outstanding shares.
At the end of the public offer, ended May 6, 2002, AGC held, directly and indirectly, 92.11% of the share capital of Glaverbel. The increase in the stake follows an off-market transaction between AGC and two institutional investors who had not tendered their Glaverbel shares during the offer period.
The financial terms of the transaction with the two institutional investors are identical to those of the recent tender offer: the price per share paid by AGC for the 7.00% block is EUR 140.86, which is equal to the price per share offered in the tender offer (EUR 145) minus the gross amount of the dividend paid in the meantime (EUR 4.14), as decided by the Annual Meeting of May 29, 2002.
Commenting on the above transaction Mr. Masayuki Kamiya, Director Corporate Planning of AGC stated, "We are very pleased about the outcome of this transaction and we envisage to proceed with a squeeze-out offer on the remaining 0.89% in the near future".
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August 22nd, 2002
Source: Glaverbel |
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