Dietikon, Monday, June 27, 2011
Axpo Holding AG, which already holds 91 percent of EGL shares, is making a public tender offer to takeover the rest of the EGL AG bearer shares at a price of CHF 850 per share. This corresponds to a premium of 20.8 percent as compared to the volume-weighted average share price over the last 60 trading days before publication of the advanced notification on 20 June 2011.
The independent committee of the EGL AG Board of Directors, comprising of Peter Derendinger and Dominik Koechlin, thoroughly reviewed the offer and recommends that minority shareholders accept the offer. The committee’s opinion is based on a fairness opinion by Bank Sarasin & Cie AG, Basle, which assesses the offered price of CHF 850 per EGL share as fair and reasonable.
After closing of the public tender offer, regular, liquid trading of EGL shares on the SIX Swiss Exchange is no longer ensured. Moreover, Axpo aims to delist the EGL share. In light of this intention, the committee is of the opinion that the public tender offer gives shareholders the opportunity to sell their shares under reasonable conditions in a fair process.
The offer period is expected to run from 12 July to 12 August 2011. Transactions are scheduled to take place in September 2011.
The fairness opinion as well as the report of the Board of Directors are available under www.egl.eu/investor in German and in French.
The offering brochure is available under www.axpo.ch in German and in French.
Further information
Media Relations: Tel. +41 44 749 40 10, media.ch@egl.eu
Investor Relations: Tel. +41 44 749 41 01, investor.ch@egl.eu
