Corio N.V.
Below you will find information from the register publication of inside information. The information has been provided by the organisation.
Registration date
27 oct 2014 - 22:10
Statutory name
Corio N.V.
Title
Recommended exchange offer by Klépierre for all issued shares Corio
Comments
Transaction highlights
• Recommended public exchange offer for all Corio Shares at an exchange ratio of 1.14 New Klépierre Shares for each Corio Share.
• The exchange ratio of 1.14 implies a premium of 15.6% based on the Klépierre closing price of EUR 36.36 and the Corio closing price of EUR 35.84 on 28 July 2014, the last trading day prior to the Initial Announcement.
• The Corio Management Board and Corio Supervisory Board fully support and unanimously recommend the Offer for acceptance and the Merger for approval.
• The Corio N.V. and the Klépierre Works Councils have rendered a positive advice in respect of the transaction.
• Simon Property Group and BNP Paribas, Klépierre's largest shareholders, as well as APG, Corio’s largest shareholder, fully support the contemplated transaction. APG has agreed to irrevocably tender its block of 30.6% Corio shares under the Terms of the Offer.
• The Acceptance Period commences at 9:00 CET on 31 October 2014 and ends at 17:40 CET on 8 January 2015, unless extended.
• The Corio EGM will be held on 8 December 2014 in Utrecht, the Netherlands.
• The Klépierre EGM will be held on 11 December 2014 in Paris, France.
• The Offer shall be subject to satisfaction or waiver of the Offer Conditions, including an acceptance threshold of 95%. The acceptance threshold will be lowered to 80% if the Corio EGM adopts the Merger Proposal with at least 66.67% of the votes cast.
• Klépierre and Corio agreed that a Merger may be implemented after completion of the Offer in order to achieve full integration of their respective businesses.
• Klépierre has already obtained clearance from the Turkish competition authority and is in the process of seeking other required regulatory approvals.
• Corio intends to pay an interim dividend to the Shareholders. Klépierre will concurrently pay to its shareholders an interim per share dividend corresponding to the per share dividend distributed by Corio divided by 1.14.
Date last update: 29 April 2025