Volkswagen controls 99.57 percent of a shares in Scania and does not serve extend a acceptance period

Posted on 12. Jun, 2014 by in Volkswagen Canada

Volkswagen Aktiengesellschaft (“Volkswagen”) announced a open offer to a shareholders of Scania Aktiebolag (“Scania”) to proposal all shares in Scania to Volkswagen during a cost of SEK 200 in money per share, regardless of share category (the “Offer”). Volkswagen announced on 13 May 2014 that a Offer will be completed. Volkswagen has instituted mandatory merger of a remaining shares in Scania.

The shares tendered in a Offer adult until a finish of a second prolongation of a acceptance duration on 5 Jun 2014, together with a shares already reason or differently tranquil by Volkswagen, volume to in sum 796,560,206 shares in Scania, comprising 398,721,189 A shares and 397,839,017 B shares, analogous to 99.57 percent of a shares and 99.66 percent of a voting rights in Scania.

Volkswagen has motionless not to serve extend a acceptance duration and does not intend to acquire shares in Scania outward a mandatory merger process.

Prior to proclamation of a Offer, Volkswagen reason or differently tranquil in sum 501,089,097 shares in Scania, comprising 380,315,018 A shares and 120,774,079 B shares, analogous to 62.64 percent of a shares and 89.18 percent of a voting rights in Scania.

At a finish of a second prolongation of a acceptance duration on 5 Jun 2014, a Offer had been supposed by shareholders representing in sum 293,059,489 shares in Scania, comprising 18,395,230 A shares and 274,664,259 B shares, analogous to 36.63 percent of a shares and 10.42 percent of a voting rights in Scania. Settlement for shares tendered during a second prolongation of a acceptance duration adult until 5 Jun 2014 is approaching to take place on or around 17 Jun 2014.

In addition, Volkswagen has, as from 7 May 2014, during a initial prolongation of a acceptance period, outward a Offer acquired in sum 2,411,620 shares in Scania, comprising 10,941 A shares and 2,400,679 B shares, analogous to 0.30 percent of a shares and 0.06 percent of a voting rights in Scania. None of these shares have been acquired during a cost that exceeds a cost in a Offer.

Volkswagen does not reason any financial instruments in Scania that yield a financial bearing homogeneous to a holding of shares in Scania.

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