Cash compensation for the minority shareholders of Generali Deutschland Holding
18 October 2013 - 14:11 price sensitive
Trieste - As part of the squeeze-out procedure to take full control of Generali Deutschland Group announced on 9 July 2013, Assicurazioni Generali today notified its subsidiary Generali Deutschland Holding AG (“GDH”) about the amount of cash compensation to be granted to the minority shareholders of GDH for the transfer of their shares to Assicurazioni Generali.
Based on the valuation report prepared by KPMG AG Wirtschaftsprüfungsgesellschaft, Assicurazioni Generali has fixed the cash compensation at €107.77 per GDH share. Given the number of GDH shares currently held by minority shareholders of GDH, this corresponds to a total amount of approx. €228 million, to be funded through internal resources.
The adequacy of this cash compensation will be examined by the expert auditor already appointed by the Regional Court of Cologne.
GDH announced that the squeeze-out resolution shall be adopted at an extraordinary shareholders’ meeting of GDH planned for 4 December 2013. All documents for GDH shareholders will be made available through the GDH website (www.generali-deutschland.de) in due time.