BHF Kleinwort Benson delisted from Euronext Brussels

Franco-German group Oddo&Cie has announced the closing of its squeeze-out and the withdrawal of BHF Kleinwort Benson Group’s shares.

Oddo&Cie held 128,563,590 BHF KB shares, representing 97.22% of the outstanding BHF KB shares at the end of the initial acceptance period for the counterbid on 10 February.

The firm has proceeded to a squeeze-out which has ended on 11 March.

Some 3,253,296 additional BHF KB shares were tendered, representing together with the BHF KB shares held by the counterbidder, 99.68% of BHF KB’s capital.

The settlement of these shares is expected to occur on 24 March 2016.

At the close of the squeeze out, the BHF KB shares were delisted from Euronext Brussels.

Oddo&Cie said some 427,278 BHF KB shares were not tendered voluntarily during the acceptance period of the squeeze-out.

“The funds necessary to pay the price for the 427,278 BHF KB shares, which have not been tendered to the squeeze-out, shall be deposited with the Deposito-en Consignatiekas/Caisse des Dépôts et Consignations in Belgium,” the company specified.

Oddo&Cie will then hold 100% of BHF KB’s capital.

ABOUT THE AUTHOR
Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

Read more from Adrien Paredes-Vanheule

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